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

why did  the volcano explode
What do Frederick Douglass' words "America reigns without a rival" mean?
do you know how to say my in Spanish?
after clicking the start button on your computer screen desktop what option would you then select to examine system components you might want to modify?
what type of fractions are the following A) 1/3 A) Improper B) mixed C)wholeB) 5 1/6C) 6/5answer A B C with the three multiple choice answers.
if f(x)=|3x-4|+2, find f (-10)
How many heart chambers does a shark have?
what does the zeppelin
what type of fractions are the following A) 1/3 A) Improper B) mixed C)wholeB) 5 1/6C) 6/5answer A B C with the three multiple choice answers.
how do u divide 16 by 3/5