After 5 years, a $2,450 investment is worth $3,123.75 What is the simple annual interest rate for this investment?
2 answers:
Answer:5.5
Step-by-step explanation:
Given
Principal (P)=2450
After 5 years its worth is 3123.75
So its simple interest is 3123.75-2450=673.75
And Simple interest is given by=
Where R=rate of interest
T=time period
673.75=
R=5.5 %
Simple interest is just i=prt, where i=interest, p=principle, r=rate, t=time
And that simple interest will be the difference between the final value and the initial value so:
3123.75-2450=2450r*5
673.75=12250r
0.055=r
So the annual simple interest rate (as a percentage) is 100(.055)=5.5%
You might be interested in
Answer:
0.8
Step-by-step explanation:
0.768/0.96= 0.8
0.96/1.2 =0.8
Sorry , i rlly need the points
(-4/5) / 3 =
-4/5 * 1/3 =
-4/15 mile per minute
120 square centimeters i think?
Answer:
50.4
Step-by-step explanation:
you need to do 15.30 plus 10 which is 15.40 than take that add 25.00 to it and you get 40.4 that 5 plus 5 whixh is 10 ans you get