Answer:
r=7
Step-by-step explanation:
74000=28000(1+r/12)^12(14)
divide 74000 by 28000, and cancel out 28000.
1.00580=1+r/12
(100) .06962=r
r = 6.96198
the 6 after the 9 rounds 9 to 0, which rounds the 6 to 7
r=7
Check the picture below.
make sure your calculator is in Degree mode.
You have to move the -2/5 by the 11j to get k by its self
K=11j+-2/5
Answer: $4902
Step-by-step explanation:
Amount = P (1 + rt)
= 4300 (1 + .02 * 7)
= 4300 (1 + .14)
= 4300 (1.14)
= 4902