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

What is the carbon source used in photosynthesis ?
Solve 2x - 5 = 7 what is the answer to this question it’s for algebra
Initial population is 3550. Annual growth rate is 0.85%. Find the population in 8 years.
Simplify the following expression. -4(6x - 8)
2x+3y=12 find four solutions​
In a greenhouse, basil is grown in planters that have a base of 4 1 4 in by 1 2 3 in. If there is a 4 × 4 array of these planters with no space between them, wh
Dr. Admir is an experimental psychologist. He wants to have an interesting title for his talk at a conference on learning. His opening slide is "Fish: Why One B
Flow is shaped by the liquid and its gases molecies static nature environment
What were Dr. Strauss and Dr. Nemur's limitations in Flowers For Algernon?
Which of the following statements about synovial joints are correct?