4 years ago

you invest 2000 in a simple interest account. The balance after 8 years is 2720. What is the interest rate?

Mathematics

1 answer:

Burka [1]4 years ago

3 0

Answer:

4.5%

Step-by-step explanation:

Find interest rate by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

I = $720, P = $2000 and t = 8 years, so

I = P*i*t

i = I/P*t

i = 720 / 2000 * 8

i = 0.045 = 4.5% per year

You might be interested in

A stadium in Pennsylvanian seats 107,282 people. A stadium in Arizona seats 71,706 people. Based on these facts, how many more p

Blizzard [7]

Well, since we are finding out how many more seats there are in the Pennsylvanian stadium than in the Arizona stadium, we will have to subtract to find the difference. 107,282(pennsylvanian stadium) - 71,706(arizona stadium) would be 35,576 seats. So there would be 35,576 more seating in the Pennsylvanian Stadium than the Arizona Stadium.

8 0

3 years ago

A number, n, is multiplied by -7/8. The product is -0.5. What is the value of n?

Yuki888 [10]

Answer: A.n = 4/7

have:

$n.\frac{-7}{8} =-0.5\\\\n.\frac{-7}{8}=\frac{-1}{2}\\\\n=\frac{-1}{2}:\frac{-7}{8}=\frac{4}{7}$