Mathematics: Sal currently has an account balance of $2,835.48. he opened the account five years ago with a deposit of $2310.72. if the interest compounds twice a year, what is the interest rate on the account?

Sal currently has an account balance of $2,835.48.

Ответ:

amandanunnery33

07.07.2020

The formula is
A=p (1+r/k)^kt
A future value 2835.48
P present value 2310.72
R interest rate?
K compounded twice a year 2
T time 5 years
Solve the formula for R
R= [(A/p)^(1/kt)-1]×k
R=((2,835.48÷2,310.72)^(1÷10)−1)×2
R=0.0414×100
R=4.14%

Hope it helps!

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Ответ:

mya2019

27.10.2020

Mathematics

-15

Step-by-step explanation:

First combine like terms, aka the variables

-5n+4n-7=8

-1n-7=8

Then, isolate the variable by adding 7 to both sides

-1n-7+7=8+7

-1n=15

Finally, solve by dividing both sides by -1

-1n/-1=15/-1

n=-15

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Sal currently has an account balance of $2,835.48. he opened the account five years ago with a deposit of $2310.72. if the interest compounds twice a year, what is the interest rate on the account?

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