Mathematics, 19.12.2020 14:00 frankie666
The formula for computing compound interest for a principal P that is invested at an annual rate r and compounded annually is given by A = P(1 + r)n , where A is the accumulated amount in the account after n years.
Let’s try a different approach. Substitute the value of 2 for n and solve this formula for r. Verify that you get the following result:
r = PA −1 (Hint: First solve for (1 + r)2 and then take the square root of both sides of the equation.) Notice that you now have a radical expression to work with. Substitute
$5000 for P and $5600 for A (which is the principal plus $600 in interest) to see what your rate must be. Round your answer to the nearest percent.
Answers: 1
Mathematics, 21.06.2019 19:30
Aline passes through 3,7 and 6,9 what equation represents the line
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The formula for computing compound interest for a principal P that is invested at an annual rate r a...
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