7/8 times 7/10????????
2 answers:
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The future value of the investment in dollars s
V = p + prt
where
p = principal, dollars
r = annual interest rate (in decimal form)
t = time, years
To determine p, write the formula as follows:
Factorize p out on the right side.
V = p(1 + rt)
Divide each side b (1 + rt).
Answer:
V = p + prt
where
p = principal, dollars
r = annual interest rate (in decimal form)
t = time, years
To determine p, write the formula as follows:
Factorize p out on the right side.
V = p(1 + rt)
Divide each side b (1 + rt).
Answer:
To find the annual rate of interest, here's what we need to do:
In this case:
333/4500 x 100%
=37/500 x 100%
=7.4%
Therefore the answer is 7.4%.
Hope it helps!