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zariyastanfield4452
23.08.2020 •
Mathematics
What simple interest rate would allow $6000 to grow to an amount of $14550 in 10 years?
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Ответ:
Step-by-step explanation:
Given,
Principal ( P ) = $ 6000
Amount ( A ) = $ 14550
Time ( T ) = 10 years
Rate ( R ) = ?
Finding the Interest
The sum of principal and interest is called an amount.
From the definition,
plug the values
⇒![\sf{14550 = 6000 + Interest}](/tpl/images/0727/9292/415bd.png)
Swap the sides of the equation
⇒![\sf{6000 + Interest = 14550}](/tpl/images/0727/9292/f0e6a.png)
Move 6000 to right hand side and change its sign
⇒![\sf{Interest = 14550 - 6000}](/tpl/images/0727/9292/bf16d.png)
Subtract 6000 from 14550
⇒![\sf{Interest = \: 8550 \: }](/tpl/images/0727/9292/f4f9e.png)
Interest = $ 8550
Finding the rate
plug the values
⇒![\sf{ Rate = \frac{8550 \times 100}{6000 \times 10} }](/tpl/images/0727/9292/cb1c0.png)
Calculate
⇒![\sf{Rate = \frac{855000}{60000} }](/tpl/images/0727/9292/f5386.png)
⇒![\sf{Rate = 14.25 \: \% \: }](/tpl/images/0727/9292/86e3d.png)
Hope I helped!
Best regards!!
Ответ:
answer:
step-by-step explanation: