Romelinper8aa Romelinper8aa
  • 25-12-2016
  • Mathematics
contestada

You invest $5,000 in an account earning simple interest. the balance after 6 years is $6,200. what is the interest rate?

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 25-12-2016
F=p(1+rt)
6200=5000(1+6r) divided both sides by 5000

1.24=1+6r
1.24-1=6r
6r=0.24
R=0.04*100=4%
Answer Link

Otras preguntas

Please help me?! Solve for x
Help me, solve for x
A fair six-sided die is rolled. Find the probability of getting a 4.​
Why are the Labyrinthos Caves at Gortyn so interesting to archaeologists?
Please add in a graph (could be drawing or from google) and answer A, B, C, and D.
why you are Mercury column in thermometer first decends slightly and then rises when placed in hot water?​
The length of the base of an isosceles triangle is x. The length of a leg is 3x-2. The perimeter of the triangle is 87. Find x
The goals against average (A) for a professional hockey goalie is determined using the formula A = 60 a = 60 (g /t) .. In the formula, g represents the number o
Which of the following is the best example of chemical weathering? a Limestone rocks dissolving in water b Plant roots growing through concrete and cracking
Jim is twice as old as Pam. The difference between their ages is 12 years. How old is Jim?