dantezacchinoowwupy dantezacchinoowwupy

11-12-2020
Mathematics

contestada

Consider the compound interest equation B(t)=100(1.1664)t.

Assume that n=2, and rewrite B(t) in the form B(t)=P(1+rn)nt.

What is the interest rate, r, written as a percentage?

Respuesta :

gabriaelle2008 gabriaelle2008

11-12-2020

The formula , for n=1 becomes .

Comparing with , we see that

P=900, and 1+r=1.185, which means that r=0.185.

r=0.185 can be written as 18.5%, as a percentage.

Answer: 18.5%

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