SOLUTION: Here's another one hope anyone can help me with solving it :) When the amount of (p) is invested at annual interest rate (r) compounded for (t) years, it will grow to an amount (

Question 979320: Here's another one hope anyone can help me with solving it :)
When the amount of (p) is invested at annual interest rate (r) compounded for (t) years, it will grow to an amount (a) given by the formula
A=P(1+r)^t
1 suppose php 20,000 is invested at an interest rate (r) conpounded annually in 5 years, it will grow to php 60,000. What is the interest rate?
2 suppose in 15 years, the php 35,000 invested grows to php 75345.75, what is the interest rate?
Thank you in advance if someone answer it :)
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
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