SOLUTION: using A=P(1+r)^t work this out: A=$400,P=$20,t=35 what is rate? Compute using compound interest: $6,00,4%,daily,3 years

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Question 960991: using A=P(1+r)^t work this out:
A=$400,P=$20,t=35 what is rate?
Compute using compound interest:
$6,00,4%,daily,3 years
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
using A=P(1+r)^t work this out:
A=$400,P=$20,t=35 what is rate?
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400 = 20*(1+r)^35
20 = (1+r)^35
1%2Br+=+root%2835%2C20%29
1 + r =~ 1.08936
r =~ 0.08936
r = 8.936%
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Compute using compound interest:
$6,00,4%,daily,3 years
$6*(1 + 0.04/365)^1095
Just calculator work.