| Rate of interest = 3.71% |
| Dear Student |
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| Please find below the answer |
| Statementshowing Computations |
| Paticulars |
| A = P(1+r/100)^n |
| 1200 = 1000(1+r/100)^5 |
| 1.2 = (1+r/100)^5 |
| 1.2^(1/5) = 1+r/100 |
| 1.0371 = 1+r/100 |
| .0371 = r/100 |
| r = 3.71% |
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