Algebra

Given the equation A=250(1.1)t, you can determine that the interest is compounded annually and the interest rate is 10%. Suppose the interest rate were to change to being compounded quarterly. Rewrite the equation to find the new interest rate that would keep A and P the same.

What is the approximate new interest rate?

Convert your answer to a percentage, round it to the nearest tenth, and enter it in the space provided, like this: 42.53%

  1. 👍
  2. 👎
  3. 👁
  1. A = 250(1 + 0.1/4)^(4t)

    1. 👍
    2. 👎
    👤
    oobleck
  2. Can someone tell me the answer already. Why give the equation but not the answer.

    1. 👍
    2. 👎
  3. i agree anon

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Calculus Please help!

    If 7000 dollars is invested in a bank account at an interest rate of 7 per cent per year. A) Find the amount in the bank after 6 years if interest is compounded annually? B) Find the amount in the bank after 6 years if interest is

  2. Math

    A $4,000.00 principal earns 5% interest compounded annually. After 4 years, what is the balance in the account? A. $500,000.00 B. $4,862.03 *** C. $4,600.00 D. $20,250.00

  3. Math

    If 3000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 12 years if interest is compounded annually Find the amount in the bank after 12 years if interest is

  4. Business Math

    Marcus invests $8,000, at 8% interest, compounded annually for 15 years. Calculate the compound interest for his investment.

  1. calculus

    If 8000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the amount in the bank after 10 years if interest is compounded annually (a) b) Find the amount in the bank after 10 years if interest

  2. Calculus :)

    If 8000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the amount in the bank after 11 years if interest is compounded annually ____ Find the amount in the bank after 11 years if interest

  3. Algebra II

    An investment service promises to triple your money in 12 years. Assuming continuous compounding of interest, what rate of interest is needed? For the question is it asking me if simple interest or continuously compounded interest

  4. Math Check My Work Please 2

    15. Lisa takes a loan of $10,500 at a 9% simple interest rate for 7 years. a. How much interest will she pay after 3 years? b. How much interest will she pay in total for the loan? $2,835.00; $6,615.00 $8,280.00; $9,720.00*

  1. math

    a sum of Rs.8000 generates Rs.1261 as compounded interest in 03 years interest compounded annually. The rate of compound interest is

  2. consumer math

    Alisha has a five-year car loan of $15,000 with an interest rate of 6 percent. If the interest is compounded annually, how much will she pay in total for her car?

  3. engineering economics

    A) A company has issued 10-year bonds, with a face value of $1,000,000 in $1000 units. Interest at 8% is paid quarterly. If an investor desires to earn 12% nominal interest (compounded quarterly) on $10000 worth of these bonds,

  4. Math

    Deana invests some money that earns interest compounded annually. At the end of the first year, she earns $400 in interest. At the end of the second year, she earns $432 in interest. a) what interest rate, compounded annually, is

You can view more similar questions or ask a new question.