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

the color of the deoxygenated blood

18. What was the name given to the belief that life is made up of competitive struggles and only the fittest survive?

We named our business after the Greek Goddess Artemis. Which word should be lowercased to make this sentence correct? Goddess Artemis We Greek

What is the volume of 80.0 g of ether if the density of ether is 0.70 g/mL

Details are made up of facts, quotations, and anecdotes. a. True b. False

If, after extensive research, the expected observations predicted by a theory fail to materialize, then the theory _____

What does the name Jimena mean in French?

A trait in a species that results in it being better suited to survive and reproduce in its environment is called a ______.

A hockey team scored 45 goals in its first 16 games. At this rate, how many goals would the team score in an 80 game season? A. 50 B. 109 C. 141 D

what order do the planets go in from least to greatest