Answer:
r = 1/pt.
Step-by-step explanation:
1 = prt
Divide both sides of the formula by pt:
`1 / pt = r.
The formula is
A=p (1+r)^t
A future value 7300
P present value 1500
R interest rate 0.0675
T time?
7300=1500 (1+0.0675)^t
Solve for t
Divide both sides by 1500
7300/1500=1.0675^t
Take the log for both sides
Log (7300/1500)=t×log (1.0675)
Divide both sides by log (1.0675)
T=log(7,300÷1,500)÷log(1.0675)
T=24.2 years round your answer to get 24 years
Hope it helps!
Answer:
1/4
Step-by-step explanation:
12/4= 3
Each paid $3 but as a fraction 3/12=1/4
