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Populaire Word Problems >

what is the rate of annual interest to get from 16,000 to 44,000 in 20 years

Solution

w ha t i s t h e r a t e o f ann u a l in t eres t t o g e t f ro m 16, 000 t o 44, 000 in 20 ye a rs

Solution

Rate : 8.75%

étapes des solutions

Translate the problem into an equation:

44000 = 16000 (1 + r \cdot 20)

Solutionner pour

r, 44000 = 16000 (1 + r \cdot 20) : r = 8.75%

Rate : 8.75%

Exemples populaires

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