sarahsingleton1
sarahsingleton1 sarahsingleton1
  • 01-12-2016
  • Mathematics
contestada

Jake earned $430 in interest on a $2500 investment after 18 months. What was the annual interest rate? (round to the nearest whole percent)

Respuesta :

apologiabiology
apologiabiology apologiabiology
  • 01-12-2016
I=PRT
I=interest
P=principal=investment
R=rate in decimal
T=time in years
remember 12 months per year

given
I=430
P=2500
R=?
T=18/12 years=1.5years

430=2500 times r times 1.5
430=3750r
divide both sides by 430
0.1146666=r
11.4666%
11%
Answer Link
mikehallusarmy mikehallusarmy
  • 01-12-2016
17% interest rate will give you 425 dollars 

Answer Link

Otras preguntas

How is DNA created?(short answer)
what is the government system where people have the power directly or indirectly
this is due in 10 minutes help please​
identify the sentence that has the faulty parallel structure. A.His decision to leave alienated him from his family, made his boss angry, and hurts his friends.
When a bacteria was present in successive animal that were infected with a disease koch was able to....
How did FDR try to "fix" the economy?
What is the range of this function? i’m on a quiz pls help
does warm air or cool air hold more humidity.​
I dont know which one to pick
Answers for the story is urban graffiti a force for good or evil