Assuming that the amount in your account at the beginning of the period was $4500 and you made no deposits or withdrawals, the interest rate is 4.42%.
To find this answer, we used the compound interest formula:
Amount = P (1 + r/n)nt
where:
P — Amount of money you started with;
n — Number of times interest is paid in a year;
t — Number of years; and
r — Annual interest rate.
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