SOLUTION: P dollars invested at interest rate r compounded annually for 5 years increases to an amount A = P(1 + r)^5. If an investment of $1000 is to increase to an amount greater than $140
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Question 241518: P dollars invested at interest rate r compounded annually for 5 years increases to an amount A = P(1 + r)^5. If an investment of $1000 is to increase to an amount greater than $1400 in 5 years, then the interest rate must be greater than what percentage? Answer by josmiceli(19441) (Show Source):
