In how many months will $9100.00 grow to $9818.75 at 6.41% per annium?

1
56 Views
All levels

jdoe0001

In how many months will $9100.00 grow to $9818.75 at 6.41% per annium?

Leave an answer

Our People Answers

0

(Based on todays review)

jdoe0001

$\bf \qquad \textit{Simple Interest Earned Amount}\\\\
A=P(1+rt)\qquad 
\begin{cases}
A=\textit{accumulated amount}\to &9818.75\\
P=\textit{original amount deposited}\to& \$9100\\
r=rate\to 6.41\%\to \frac{6.41}{100}\to &0.0641\\
t=years
\end{cases}
\\\\\\
\cfrac{A}{P}=1+rt\implies \cfrac{A}{P}-1=rt\implies \cfrac{\frac{A}{P}-1}{r}=t$

now, "t" is years... so if it gives you something like 3.5, that simply means, 12 + 12 + 12 + half-year or 6 months, or 42 months
- 0
- 0
- Reply
- Report

Recommend Questions

2

What is the volume of the rectangular prism. Type the answer in the boxes below

November 2022
1
Intermediate

1

Who lead the march on Washington

November 2022
3
Intermediate

1

why does obrien have winston arrested when obrien is the one who made first contact

November 2022
3
Intermediate

1

why might the unemployment rate underestimate the underutilization of labor resources the unemployment rate might underestimate the underutilization of labor resources because it does not include

November 2022
2
Intermediate

1

the diagonal of a square is 2 inches find the area of the square

November 2022
2
Intermediate

1

if sxx 7 and tx 4x23 which expression is equivalent to tsx

November 2022
2
Intermediate

1

describe the four reasons evolution occurs

November 2022
2
Intermediate

0

Geometry help please!

November 2022
3
Intermediate

2

s (D) Are completely weightless

November 2022
2
Intermediate

1

help me with the bonus box please

November 2022
5
Intermediate

TinaBearHugs123