Answer:
The interest rate was of 5.5% a year.
Step-by-step explanation:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit year and t is the time in years for which the money is invested or borrowed.
In this question, we have that:
We have to find r.
Taking the square root from both sides to isolate r.
The interest rate was of 5.5% a year.
Answer:
a) $4,960
b) 8% per annum
c) $120
Step-by-step explanation:
a) 4000 + 960 = $4960
b) 960 ÷ 3 = 320 per year
320/4000 × 100 = 8%
c) 1% more per year:
1% of 4000 = 40
3 years: 120
So $120 more
Answer:
I do not see a question here
Step-by-step explanation:
Pls add your question
Answer:
big butts
Step-by-step explanation:
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