SOLUTION: Find the interest rate to the nearest hundredth of a percentage that will produce $3000.00, if $2500.00 is left at interest rate compounded semiannually for 4.5 years. Thank you so

Algebra.Com
Question 860667: Find the interest rate to the nearest hundredth of a percentage that will produce $3000.00, if $2500.00 is left at interest rate compounded semiannually for 4.5 years. Thank you so much.
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 

Hi,

 In General 

A = Accumulated Amount

P= principal = 

r= annual rate = .

n= periods per year = 

t= years =

  



    1.0205 = 1 + r/2

     .0205 = r

      .0410 = r,   r = 4.1% 

RELATED QUESTIONS


find the interest rate to the nearest hundredth of a percent that will produce $3500, if... (answered by lwsshak3)

Find the interest rate to the nearest hundredth of a percent that will produce ​$2000,... (answered by greenestamps,josmiceli)

A sum of $2500, 00 earns interest at a rate of 12% per year compounded quarterly. How... (answered by greenestamps,josgarithmetic,ikleyn)

Please help, I am stucked at this question:

Find the interest rate needed for an... (answered by Theo,MathTherapy)

Find the simple interest on a $2,159.00 principal, deposited for 6 years at a rate of... (answered by CPhill)

Lionel left Reedsville at 9:00 A.M. one day and drove to Fitzwilliam at an average rate... (answered by mananth)

The current share price of a stock is $95.00. The stock will pay an annual dividend of... (answered by ikleyn)

According to AccuData Media Research, 36% of televisions within the chicago city limits... (answered by stanbon)

1. What annual interest rate, to the nearest tenth, will produce $5760 if $3500 is left... (answered by josmiceli)