r = (1/t)(A/P - 1)
r = (1/9)((300/81) - 1)
Reduce the expression by cancelling the common factors.
r=(1/9)(100/27−1)
Combine 100/27 and −1 using a common denominator.
r=(1/9)(100−1⋅27/27)
Simplify the numerator.
r=(1/9)(73/27)
r = 0.30041152
converting r decimal to a percentage
R = 0.30041152 * 100 = 30.0412%/year
A. 3%
