alexmonreal181 alexmonreal181

03-02-2017
Mathematics

contestada

What is the interest rate if a principal of $602 earns $95.88in interest compounded annually in five years?

Respuesta :

Aliwohaish12 Aliwohaish12

03-02-2017

Future value= principal+interest
Fv=602+95.88=697.88 now the future value in known
To find r set the equation and solve for r
Fv=p(1+r)^n
697.88=602(1+r)^5
697.88/602=(1+r)^5
R=(697.88/602)^(1/5)]-1
R=2.99%

Answer Link

Otras preguntas

solve this system of equations using the substitution method. y=2x+4 4x-6=y( ? , )

In need help i am doing grade improvements

Which of the following is true about chemical exposure.

1. Emily is buying a tablecloth which is 3x+5 meters long and x-3 meters wide. If the available cloth is (3x2- 4x-15) m2. Is it enough to cover the table?

Write an informal email (around 150 words) to your friend Ali thanking him for the present you received from him on the occasion of your graduation. Please help

Please say correct answer and I give excerpt verifired. Read the image I put and answer it please for excerpt verified

Reduce this equation

What course of action should you take if you were placed on any state or federal exclusion lists cvs.

find the slope the in clearest form

Please help Step by step