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October 21, 2014

October 21, 2014

Posted by **Anonymous** on Saturday, July 9, 2011 at 7:55pm.

- Business math -
**Ms. Sue**, Saturday, July 9, 2011 at 7:56pmWhat handbook???

- Business math -
**Anonymous**, Saturday, July 9, 2011 at 8:04pmThe formula for compound interest is:

A = P(1 + r/n)^(nt), where A is the total amount, P is the principal, t is the time in years, r is the interest rate, and n is how many times a year it is compounded.

A = 21,500(1 + 0.06/2)^(2*6)

Solve from there.

- Business math -
**Cindy**, Monday, October 22, 2012 at 6:54pmHe borrowed $500 for seven months and paid 53.96 in interest. what was the rate of interest?

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