edithmar6215 edithmar6215

04-07-2021
Business

contestada

If $240,000 is invested today and returns $432,000 in 10 years, what formula can be used to calculate the interest rate

Respuesta :

05-07-2021

Answer:

r = (FV/PV)^(1/n) – 1

and

Interest is 6.05 %

Explanation:

Interest is calculated as :

r = (FV/PV)^(1/n) – 1

Thus,

The formula that can be used to calculate the interest rate is

r = ($432,000/$240,000)^(1/10) – 1

= 6.05 %

Answer Link

Otras preguntas

Acil cevap❗ A,B,C birer rakam olmak üzere AAxBC=2002 olduğuna göre A+B+C en çok kaç olabilir? Biliyorsanız cevaplayın bilmiyorsanız boşuna yazmayın lütfen

y varies jointly as x and the square of z and inversely as n. if y=80 when x=9, z=4, and n=18, find y when x=32, z=7, and n=35

What is the smallest possible length for the third side of the triangle given the two sides 10 and 5?

Pls helpProve the trigonometric identitycsc x cos x/tan x+cot x =cos^2 xDrag the expressions into each box to complete the proof.

During bowling practice, Marley rolled 14 strikes out of 70 attempts. What percent of marleys attempts were a strike.

The formula below gives the sum of the degrees, S, of the interior angles of a polygon. If n represents the number of sides, which equation solves for n? S = (n

Right triangle EFG has its right angle at F, EG = 6 , and FG = 4 What is the value of the trigonometric ratio of an angle of the triangle? Drag a value to each

from President John F. Kennedy's Inaugural Address, 1961 …In your hands, my fellow citizens, more than in mine, will rest the final success or failure of our co

PLEASE HELP ON QUESTION ASAP. if answer is correct i will rate you five stars a thanks and maybe even brainliest. Alex drove for 3 hours at average speed of 60m

Ashish lends Rs. 20000 in four different parts. If he gets 8% on Rs. 4000, 7.5% on Rs. 8000 and 8.5% on Rs. 2800. Find the percentage he will receive on the rem