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.
1. 49
2. 5
3. 6, -6
4. 5
5. 3.6%
6. False
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16099.44 = 15000(1+i)^2
1.073296 = (1+i)^2
1+i = √1.073... = 1.036
i = .036 or 3.6%
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%