Sunday

March 1, 2015

March 1, 2015

Posted by **Anonymous** on Saturday, October 1, 2011 at 12:46pm.

I'm not sure how to set this problem. I thought at first I would substitute the years and the dollars into the equation in place of T as 2 and the Dollars P as 10,000, but i do not know if that's how i am supposed to start it

- Algebra 2 -
**Steve**, Sunday, October 2, 2011 at 11:27pmYou had the formula right, but in this case, you want an inequality, rather than an equation:

10000 + 10000 * r * 2 >= 12000

10000 * r * 2 >= 2000

r >= 0.1

so, you'd need at least 10% interest for the principal to grow from 10K to 12K in two years

**Answer this Question**

**Related Questions**

Algebra - Greta invests $10,000 in an investment that pays 3% interest, ...

math - Amount of an investment. The amount of an investment of P dollars for t ...

pre-algebra - Shannon put $ 7,000 in a 5 year CD that paid 8% interest per year...

Math - The amount of an investment of P dollars for t years at simple interest ...

math,algebra - Is this correct Business and finance. The simples interest I on a...

Math - The nominal rate of interest is 8% and the rate of inflation is 5%. A ...

Compounded Interest - ) An investment of $37,000 was deposited in the bank. ...

algebra - Hannah invests $3850 dollars at an annual rate of 6% compounded ...

Accounting - 1. A manager is considering the following investment: Initial ...

Business finance - Question No 1: Sumi Inc. has policy of paying a Rs. 9 per ...