Answer:
16%
Step-by-step explanation:
because 50 is 16% of 800
hope that helps and is correct
Answer:
$23,330.66
Step-by-step explanation:
The compound interest function is ...
FV = P(1 +r/n)^(nt)
where P is the principal amount ($19,600), n is the number of compoundings per year (4), r is the interest rate (.035), and t is the number of years (5).
Putting these numbers into the formula and doing the arithmetic, we get ...
FV = $19,600(1 +.035/4)^(4·5) = $23,330.66
Answer:
Step-by-step explanation:
<u><em>The value of r is the question is</em></u>
r=0.03
we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
we have
substitute in the formula above
solve for t
Apply ln both sides
Apply property of logarithms
Remember that
