Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
Answer:
y = 5x/7 + 10/-7
Step-by-step explanation:
subtract 5x from both side and you should get -7y = -5x + 10
divide negative 7 into both side -7/-7 = -5x/-7 + 10/-7
and the answer is y = 5x/7 + 10/-7
Answer:
9.33%
Step-by-step explanation:
Step one:
given
Principal= $10,000
Final amount = $150,000
time = 50-21= 29 years
Required
The rate
Step two:
to solve for the rate we can apply the formula for rate as
r = ln(A/P) /t
r= ln(150000/10000)/29
r= ln(15)/29
r=2.7080502011/29
r=0.0933
r= 0.0933*100
r= 9.33%
