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jmc

algebra senior

Problem

An engineer invested \10,\!00012\%\. If the annual interest rate of the second certificate is then what is
Solution
For the first six months, the (simple) interest rate is percent. Therefore, the investment grows to .

Let the annual interest rate of the second certificate be percent. Then the interest rate for six months is , so the investment grows to . Therefore, Then so , which means .
Final answer
10