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Given That FV=26t+650F V = 26 t + 650 , for What Interest Rate Is This the Equation of for What

Question 131

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Given that FV=26t+650F V = 26 t + 650 , for what interest rate is this the equation of future value (in dollars) as a function of time t (in years) (Round your answer to the nearest 0.1%.)


A) r=4%r = 4 \%
B) r=1.0%r = 1.0 \%
C) r=2.6%r = 2.6 \%
D) r=6.5%r = 6.5 \%
E) r=0.4%r = 0.4 \%

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