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lubasha [3.4K]
2 years ago
12

Answer before 11:59 plzzz

Mathematics
1 answer:
Alex17521 [72]2 years ago
5 0
0.0392 or 3.92%
The exponential growth formula can find the interest rate.

y - tolat value (P +I) (216)
a - principal (200)
r- rate (unkown)
x - time in years (2 yrs)
Substitute known values

divide both sides by 200

take the square root of both sides

subtract 1 on both sides
r = 0.0392 or 3.92%
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3 0
2 years ago
Orlando invests $1000 at 6% annual interest compounded daily and Bernadette invests $1000 at 7%
Montano1993 [528]

Answer:

6 Years

Step-by-step explanation:

Orlando invests $1000 at 6% annual interest compounded daily.

Orlando's investment = A=1000(1+\frac{0.06}{365})^{(365\times t)}

Bernadette invests $1000 at 7% simple interest.

Bernadette's investment = A = 1000(1+0.07×t)

By trail and error method we will use t = 5

Bernadette's investment will be after 5 years

1000(1 + 0.07 × 5)

= 1000(1 + 0.35)

= 1000 × 1.35

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Orlando's investment after 5 years

A=1000(1+\frac{0.06}{365})^{(365\times 5)}

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  = 1000(1.000164)^{1825}

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After 5 years Orlando's investment will not be more than Bernadette's.

Therefore, when we use t = 6

After 6 years Orlando's investment will be = $1433.29

and Bernadette's investment will be = $1420

So, after 6 whole years Orlando's investment will be worth more than Bernadette's investment.

8 0
3 years ago
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