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AleksAgata [21]
3 years ago
14

Alexis put $2000 in a savings account. After 4 years, she had $2543 in the account. What rate of interest did she earn? Use the

formula A = Pert, where A is the ending amount, P is the principal (initial amount), r is the interest rate, and t is time.
Mathematics
2 answers:
melomori [17]3 years ago
7 0

Answer:

the other person is right, the answer is 6 %

Step-by-step explanation:

natta225 [31]3 years ago
3 0
Alrighty

P=2000
A=2543
t=4

A=Pe^{rt}
2543=2000e^{4r}
solve

2543=2000e^{4r}

divide both sides by 2000

\frac{2543}{2000}=e^{4r}

take ln of both sides

ln(\frac{2543}{2000})=ln(e^{4r})

ln(\frac{2543}{2000})=(4r)ln(e)

ln(\frac{2543}{2000})=(4r)(1)

ln(\frac{2543}{2000})=4r

divide both sides by 4

\frac{ln(\frac{2543}{2000})}{4}=r

use your calculator

0.060049=r
convert to percent
that is about 6%

the interest rate is 6%
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