Using the formula for compounded interest, it is found that an interest rate of 1.56% would be required.
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The compound interest formula is given by:
- A(t) is the amount of money after t years.
- P is the principal(the initial sum of money).
- r is the interest rate(as a decimal value).
- n is the number of times that interest is compounded per year.
- t is the time in years for which the money is invested or borrowed.
- Invest $11,000, thus
- 16 years, thus
- End up with $14,000, thus
- Compounded monthly, thus .
An interest rate of 1.56% would be required.
A similar problem is given at brainly.com/question/23781391
9*52
Multiply
Final Answer: 468
There’s not a picture or something
Answer:
(-4,-7)
Explanation:
Answer:
6
Step-by-step explanation:
80-38= 42
You need $42
at 7 per car... 42/7= 6