Question 979323: Hello
The lessons is about extracting the roots so i don't know if in the right one
But anyway hope you can help me solve this problem :)
Thank you!
When the amount of (p) is invested at the annual interest rate (r) compounded for (t) years, it will grow to an amount (a) given by the formula
A=P (1+r)^t
1find the interest rate if php 30,000 compounded annually grows to php 33,765 in four years?
2 find the interest rate if php 50,000 compounded annually grows to php 55,204 in five years?
Hope anyone can solve this :)
Answer by Alan3354(69443)   (Show Source):
You can put this solution on YOUR website! When the amount of (p) is invested at the annual interest rate (r) compounded for (t) years, it will grow to an amount (a) given by the formula
A=P (1+r)^t
1find the interest rate if php 30,000 compounded annually grows to php 33,765 in four years?
33765 = 10000*(1+r)^4
(1+r)^4 = 3.3765
1+r =~ 1.35555
r = 0.3555 = 35.55% per year
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2 find the interest rate if php 50,000 compounded annually grows to php 55,204 in five years?
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Same problem, different numbers.
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