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Juli2301 [7.4K]
3 years ago
15

Find the interest rate r when p = 800, a = 2700, and t = 3.​

Mathematics
2 answers:
son4ous [18]3 years ago
5 0

Answer:

For compound interest, 50%.

Step-by-step explanation:

(I'm assuming this question is asking for the compound interest):

The formula for compound interest is given by:

A=P(1+\frac{r}{n})^{nt}

Plug in the values we know. We can use 1 for <em>n:</em>

<em />2700=800(1+r)^3\\27/8=(1+r)^3\\1+r=\sqrt[3]{27/8}\\r=3/2-1\\r=1/2=.5<em />

So, the interest rate is 50%.

Vaselesa [24]3 years ago
3 0

Answer:

r = 0.5 or 1/2

Step-by-step explanation:

Simple Interest Rate Formula: A = P(1 + r)^t

Simply plug in our known variables:

2700 = 800(1 + r)³

Now we solve for <em>r</em>:

<em>Divide both sides by 800</em>

27/8 = (1 + r)³

<em>Take the cube root on both sides</em>

∛27/8 = ∛(1 + r)³

<em>Simplify</em>

3/2 = 1 + r

<em>Subtract 1 on both sides</em>

r = 1/2

r = 0.5

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