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gfoster07k
Since there were several viewers and no responses, I am posting the
answer I found for general interest. The interest rate returned is
simple interest per year with no compounding. The equation is (total
interest earned)/(investment x fractional years invested). Example:
$1000/($10,000 x 1.5yrs) = 6.67% per year.
answer I found for general interest. The interest rate returned is
simple interest per year with no compounding. The equation is (total
interest earned)/(investment x fractional years invested). Example:
$1000/($10,000 x 1.5yrs) = 6.67% per year.