1. The compound interest on $2500 for 5 years at 4% per annum (compounded annually) is
1 answer:
You might be interested in
Answer:
x = 5
Step-by-step explanation:
Hi there!
So, to answer this problem, I'll use the reverse method.
31 - 4 = 27,
So how many times, can 5 go into 27?
The closest factor of 5 to 27 is 25.
5 can go in to 27, 5 times.
Continuing on, there is a 2 left over, so the answer to your question is
x = 5
5 · 5 - 4 = 31
Let me know if I am incorrect and I will attempt to find the right answer for you.
<em>waffletowne</em>