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knight5910
05.04.2021 •
Mathematics
The square below represents one whole.
Express the shaded area as a fraction, a decimal, and a percent of the whole.
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Ответ:
Rate of interest = 10.95%
Step-by-step explanation:
Given:
Amount deposit in bank = 25,000
Number of year = 60 year - 40 year = 20 year
Future value = 200,000
Find:
Rate of interest
Computation:
A = P[1+r]ⁿ
Future value = Amount deposit in bank[1+Rate of interest]ⁿ
200,000 = 25,000[1+r]²⁰
8 = [1+r]²⁰
1.1095 = 1 + Rate of interest
Rate of interest = 0.1095
Rate of interest = 10.95%