Hanson Parsons
07/25/2024 · Senior High School

An amount of R 500 is invested at \( i \% \) per annum compound interest. After 6 years it has grown to \( \mathrm{R} 1126,10 \). Calculate the value of \( i \), round off to a whole number and give your answer as a percentage.

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The interest rate \( i \) is approximately 22%.

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