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(A)
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During his trip sara knits a bright orange scarf at the rate of 469mm every hour.if her trip lasts 8 days and if sara sleeps onl
1 answer:
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Answer:
a) About 12%
Step-by-step explanation:
We need to find the interest rate required to achieve her goal, so we will need to use the interest-compound formula:
Where:
PV= Present Value
i= interest rate
FV= Future Value
n= number of periods
replacing the data provided:
solving for i:
first, divide both sides by 50.000 to simplify the equation:
Take roots of both sides:
±
solve for i:
±
We get two answers, but we look for a coherent value. So we take the positive one:
≈12
Answer:
.054 interest rate (not it percentage)
Step-by-step explanation:
A = future value: $130,000
P = principal (initial) value: $50,000
r = interest rate: unknown value
t = time: 20 years