Thursday

July 31, 2014

July 31, 2014

Posted by **Anonymous** on Saturday, June 22, 2013 at 4:03pm.

- math -
**Henry**, Monday, June 24, 2013 at 11:14amP = Po(1+r)^n

P = 8000+1261 = 9261.

Po = 8000.

n = 1comp./yr. * 3 yrs. = 3 Compounding

periods.

r = ?

8000(1+r)^3 = 9261.

Divide both sides by 8000:

(1+r)^3 = 1.157625.

Take cube of both sides:

1+r = 1.05

r = 0.05 = 5% per yr.

**Related Questions**

Compound math - (Future Value) Suppose you invest $8000 into an account that ...

Compound interest - Hello My teacher skipped over this and I have no clue how to...

maths - simple interest and compound interest on what sum will the compound ...

Kirr - *solve execises by using compounded interest formula Principal $ 700 ...

Calculus :) - If 8000 dollars is invested in a bank account at an interest rate ...

maths-- compound interest - find the compund interest on $2500 for one year at 4...

Math - If 3000 dollars is invested in a bank account at an interest rate of 6 ...

Math - A=P(1+r)^2 A= interest P= principle interest r= interest rate t= time in ...

Calculus Please help! - If 7000 dollars is invested in a bank account at an ...

math(compunded interest ) - 6.how long will it take for a sum of money to ...