lexiejaimez lexiejaimez
  • 03-11-2020
  • Mathematics
contestada

3)
Ross wants to know what interest rate he needs to make his $800 grow to
$1000 in 4 years.

Respuesta :

theaedan
theaedan theaedan
  • 03-11-2020

Answer:

Why?:

The interest formula is A = P(1+r/m)^mt

A is the Amount, P is principal (initial investment), R is rate, M is times per year (not used) and T is time.

So if we want 1000 = 800(1+r)^4, we need to find R. In this case, R is about 5 percent.  (I'm not super confident, so see if you have other answers)

Answer Link

Otras preguntas

How did allies hide from Germans D-day invasion plan?
Please help??? Science SEMESTER REVIEW!!!!In a series of rock layers, a geologist finds fossils of a pine trees and oak trees in layers that are 1.0 m and 1.5
The fetus is nourished by the __________ during the first 7 weeks and by the _______ from week 8 through birth ?
If the probability of giving birth to a boy is 0.52, what is the approximate probability of giving birth to 4 consecutive boys?
The data represent the ages of people working at a store. 19, 27, 20, 26, 20, 24, 32, 23, 20, 19, 21 What is the first quartile of these ages?
Find the sum of 2/9+1/9?
I forgot what are homophones.Does anyone know what's a homophone.
Find the sum of 2/9+1/9?
pythagorean theorem If l = 12 cm and m = 35 cm, what is the length of n?
Which one of the following is smallest in size ?N3-               O2-               F-                Na