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asickles1124 asickles1124
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Posts: 26
10 years ago
In 2011, the federal government debt was $14.8 trillion, and just the annual interest payment on this debt was approx $454 billion. Estimate the APR paid by the federal government on its debt. Can someone show me how to solve this problem. I have been stuck all morning.
Source  Excursions in modern mathematics 8E
Peter Tannenbaum
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Staff Member
Educator
10 years ago
HI asickles1124

Is it compounded monthly, annually?

What's the formula that you've been given for APR?
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