Amanda put $1500 in a savings account. After 5 years, she had $1833 in the account. What rate of interest did she earn? Use the formula A=Pe^rt, where A is the ending amount, p is the principle (initial amount), r is the interest rate, and t is time
2 answers:
4%, That is the correct answer on Apex
A=Pe^rt where: A=amount P=principle t=time r=rate Plugging our values in the equation and solving for r we obtain: 1833=1500e^(5r) solving for r we get: r=0.0401 Answer: r=0.0401
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