A starting principal of 6000 continuously compounds for 8 years, resulting in an acquired amount of 9000. Find the interest rate that produced this amount. Answer as a percentage rounded to two decimal places.

الحلّ

الحلّ

Rate : 5.19895 \dots %

خطوات الحلّ

Translate the problem into an equation:

9000 = 6000 (1 + \frac{r}{1})^{1 \cdot 8}

9000 = 6000 (1 + \frac{r}{1})^{1 \cdot 8}, r

حلّ لـ:

r = 5.19895 \dots %

Rate : 5.19895 \dots %

أمثلة شائعة

Find the side length of a cube with a volume of 301m^2 the product of-5 and a number is greater than 35 or less than 10 A person invests 3500 dollars in a bank. The bank pays 6.5% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 5600 dollars?The diameter of a circle is 8 cm. Find its area The square of the product of 2 and a number.