He earned $325 because 900 divided by 4% = $225! :)
Answer:
non linear
Step-by-step explanation:
Total = Principal * (1+(rate/n))^n*years
Total = 1,200 * (1.015)^14
Total =
1,200 * <span><span><span>1.2317557307
</span>
</span>
</span>
<span>Total =
1,478.11</span>
Source:
http://www.1728.org/compint3.htm
You have to get r by itself on one side. Multiply both sides by 238 to cancel it out of the denominator on the left side.
You are left with r = 8 × 238 or r = 1904.
To check, plug 1904 back into the equation.
1904 ÷ 238 = 8
8 = 8 (True)
Answer:
the answer to your question is 0.4375
