Mathematics Compound Interest Finding the rate of interest
The future value of $6000 invested for 5 years at rate r, compounded annually, is given by S=6000(1+r)^5. Find the rate r, as a percent that gives a future value of $8415.31. Round to the nearest whole percent.
Check your 12:49pm post.
answered by
Henry
12 years ago
0
0
You can ask a new question or answer this question .
Similar Questions
Top answer:
8415.31=6000(1+r)^5 1.4025517 = (1+r)^5 take the 5th root on your calculator 1.0699999 = 1+r r =
Read more.
Solve the problem. The profit made when t units are sold, t>, is given by P²-36t+320. Determine the number of units to be sold
Top answer:
S = 6000(1+r)^5 = $8415.31, (1+r)^5 = 8415.31 / 6000 = 1.40255, Take log of both sides: 5log(1+r) =
Read more.
Solve the problem. The profit made when t units are sold, t>, is given by P²-36t+320. Determine the number of units to be sold
Top answer:
please explain this equation for me step by step p=5670 r=3.5% with a one year time limit,
Read more.
Top answer:
semi annually future value is $201.20
Read more.
Top answer:
A= P(1+r/n)^n*t for instance A=10000(1+0.05/1)^1*10 A= 10000(1.05)^10 a= 10000(1.628895) A= 16288.95
Read more.
Top answer:
P = Po(1+r)^n. r = 11%//100% = 0.11 = Annual % rate expressed as a decimal. n = 1comp./yr. *
Read more.
Top answer:
To calculate the future value of an investment with different compounding frequencies, we can use
Read more.
Top answer:
Po = $32,500 @ 69%? for 3 years. P1 = Po(1+r)^n. Compounded annually. P1 = 32,500(1+0.69)^3 =
Read more.