mecca99
mecca99 mecca99
  • 25-05-2015
  • Mathematics
contestada

solve: 
the sum of $2000 is invested at interest-rate r, compounded annually, in 2 years it grows to $2880. what is the interest rate?

Respuesta :

mumsy
mumsy mumsy
  • 25-05-2015
The formula we can use is A=P(1+rt)

A =accumulated value, P=principal, r=rate, t=time(years)

2880=2000(1+r*2)
2880=2000+4000r
800=4000r
r=880/4000=0.22
interest rate 22%
Answer Link

Otras preguntas

What is the value for 5 in 0.000598?
Please help I suck at poetry tbh
What effect does an increase in greenhouse gas concentration have on the energy budget of the Earth?
identify the decimal and simplify fractional form of 80%
The standard form of 48 −60 is .................
what fraction of 2 1/2 is 48 minutes ​
Today, I Need someone's help in English Here is the first page I will be giving out points all day(and brainliest) First, choose two sources from each of the re
In the cicrle below, suppose m WXU= 204 and m Help me pls
The higher the concentration of greenhouse gases like CO₂ and methane, the lower the temperatures on Earth. True False
Suzanne is following a fad diet. She has started to experience low energy during her workouts, and on a recent trip to the doctor, she found out she has high ch