Cindy invested $\$4200$ in ABN Bank for $3$ years. ABJN Bank pays $1.8\%$ per year compou

Question

Cindy invested $\$4200$ in ABN Bank for $3$ years. ABJN Bank pays $1.8\%$ per year compound interest. She would have earned the same amount of interest if she had invested the same amount of money for $3$ years and $6$ months in HKSB Bank which pays $r\%$ per year simple interest. Calculate the value of $r$.

Accepted Answer

$1.57$

(E Math) 2025 CCHY P1 Q5

(E Math) 2025 CCHY P1 Q5