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ehidna [41]
3 years ago
12

So totally confused please help

Mathematics
1 answer:
OLga [1]3 years ago
7 0

Answer:

The answer to your question is: r = 0.1

Step-by-step explanation:

Data

P = $4500

A = $9000

t = 9 years

r = rate

Formula

                            r = \sqrt[t]{\frac{A}{P}} - 1\\

Substitution

                             r = \sqrt[9]{\frac{9000}{4500} - 1\\

Simplification

                             r = \sqrt[9]{2} - 1

Result

                             r = 1.08 - 1

                             r = 0.08 ≈ 0.1

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The amount of money that Jordan will earn at the end of 10 years = $12,587.5

<h3>Calculation of compounded interests</h3>

The principal amount invested(P) = $9,500

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= $12,587.5

Learn more about compound interest here:

brainly.com/question/24924853

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