Wednesday

November 26, 2014

November 26, 2014

Posted by **Matt** on Thursday, January 10, 2013 at 6:24am.

- Algebra -
**fruit**, Thursday, January 10, 2013 at 8:11amI=prt

600=300(r)(5)

600= 1500r

600/1500=r

- Algebra -
**Reiny**, Thursday, January 10, 2013 at 8:44amfruit used "simple interest"

But for a five year period it is more likely that compound interest would be used

3600 = 3000(1+i)^5

1.2 = (1+i)^5

take the 5th root

1+i = 1.2^(1/5) = 1.037..

i = .037

or 3.7%

**Answer this Question**

**Related Questions**

math - Pat deposits $600.00 in a saving accounts at a simple interest rate of 6...

algebra HELP ASAP - If $13,000 is deposited in a bank account paying 6% ...

finance - equipment cost $20,000 and is financed over a period of five years at ...

math - If you put $ 6,000 in a savings account that pays interest at the rate of...

Algebra - please check my answer for me - The population increased 80 percent in...

math - Marla earned $400 interest over 2 years on a $4,000 investment. Jovita ...

college algebra - John invests $2500 in an account that pays a rate r compounded...

Maths B - Kate is thinking about investing $45000 for 5 years. She deposits her ...

Algebra - A company invests $15,000.00 in an account that compounds interest ...

Algebra Question~! - A company invests $15,000.00 in an account that compounds ...