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Math

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A company invests $15,000.00 in an account that compounds interest annually. After two years, the account is worth $16,099.44. Use the function in which r is the annual interest rate, P is the principal, and A is the amount of money after t years. What is the interest rate of the account? A = P(1 + r)t

A.) 1.04%
*B.) 3.6%
C.) 5.4%
D.) 7.3%

Thanks.

  • Math - ,

    16099.44 = 15000(1+i)^2
    1.073296 = (1+i)^2
    1+i = √1.073... = 1.036
    i = .036 or 3.6%

  • Math - ,

    the answers for the quiz to my fellow 2017,2018,2019, whenever ur reading this are

    1) solve for t.
    d-49
    2) solve for g.
    a-5
    3) solve for d.
    d- 6, -6
    4) which is the extraneous solution of
    d-5
    and this problem, which is b)3.6%

  • Math - ,

    they're correct^

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