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September 22, 2014

September 22, 2014

Posted by **Jesee** on Friday, September 24, 2010 at 10:46pm.

Let’s use our knowledge of quadrantic equations to analyze a real world business application. If P dollars is invested at r rate of interest compounded anually t years, then the amount of money, A, accummulated at the end of t years is given by the formula

A = P (1 + r)t

Barbara invested $100 at a certain rate of interest compounded anually for two years. If the accumulated value at the end of two years is $121, find the rate of interest.

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