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agasfer [191]
3 years ago
14

Today, the US travel and tourism industry averages annual sales of more than _________

Business
1 answer:
vodka [1.7K]3 years ago
8 0
Government officials
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Jerry deposited $10,000 in a bank account, and 10 years later he closes out the account, which is worth $18,000. The annual rate
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Answer:

<h2>r=  6.054% per year</h2>

Explanation:

given that

principal P=  $10,000

final amount A= $18,000

time t= 10 years

To find the annual rate we will use the formula below and solve for r

r = [(\frac{A}{P} )^\frac{1}{t}  - 1]

Substituting our data into the expression and solving for r we have

r = [(\frac{18000}{10000} )^\frac{1}{10}  - 1]\\\\r = [(1.8 )^\frac{1}{10}  - 1]\\\\r = [(1.8 )^0^.^1  - 1]\\\\r = [(1.8 )^0^.^1  - 1]\\r={1.06054-1}\\\\r= 0.06054  

Calculate rate of interest in percent

r = 0.06054* 100

r=  6.054% per year

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