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3 years ago

Please someone help me

Mathematics

2 answers:

ruslelena [56]3 years ago

8 0

Answer:

r = 0.046212737

Step-by-step explanation:

A = 14,400 (what your investment originally is)

P = 7,200 (what you want your investment to be)

n = 365 (interest is compounded daily)

t = 15 (15 years)

Plug all of these numbers into the equation, then solve for r

14,400 = 7,200(1 + r/365)^365 · 15

Divide 7,200 on both sides --> 2 = (1 + r/365)^365 · 15

365 · 15 = 5475 --> 2 = (1 + r/365)^5475

5475√(2) = 1 + r/365 (root 5475 both sides to cancel out the exponent)

(5475√(2)) - 1 = r/365 (subtract one from both sides)

((5475√(2)) - 1) · 365 = r (multiply both sides by 365 to isolate r)

Type the left side into the calculator to get r --> 0.046212737.

Hope this helps!

ankoles [38]3 years ago

5 0

Shorter way
The answer is r= 0.046212737

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