K=14 i think thats right im not sure
Answer:
$8,500
Step-by-step explanation:
Interest = 5000 x 5 x 0.14
= 1000 x 0.14 x 25
= 140 x 25
= 3500
5000 + 3500 = 8500
The answer to number 2 is g.15
Answer:
133.33 years
Step-by-step explanation:
Given that:
Principal = $500
Interest rate (r) = 1.5% = 0.015
Triple amount of principal = $500 * 3 = $1500 = final amount (A)
Number of years (t) =?
Using the relation :
A = P(1 + rt)
1500 = 500(1 + 0.015t)
1500 / 500 = 1 + 0.015t
3 = 1 + 0.015t
3 - 1= 0.015t
2 = 0.015t
2 / 0.015 = 0.015t / 0.015
133.333 = t
133.33 years
