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Populaire Word Problems >

You plan to start your own business and are investing today to grow some seed money. You have 16912 to invest and aim to have 26087 in 9 years. What interest rate must you earn to meet your goal?

Solution

Y o u pl an t o s t a r t yo u r o w n b u s in ess an d a re in v es t in g t o d a y t o g ro w so m e see d m o n ey . Y o u ha v e 16912 t o in v es t an d aim t o ha v e 26087 in 9 ye a rs . Wha t in t eres t r a t e m u s t yo u e a r n t o m ee t yo u r g o a l ?

Solution

Rate : 6.02793 \dots %

étapes des solutions

Translate the problem into an equation:

26087 = 16912 (1 + r \cdot 9)

Solutionner pour

r, 26087 = 16912 (1 + r \cdot 9) : r = 6.02793 \dots %

Rate : 6.02793 \dots %

Exemples populaires

twice the différence of a number and 3 equals 9 three times the sum of a number and 24 is less than or equal to 16.The product of eight and two more than a number is ninety-six. What is the number?If two dice are rolled together, what is the probability that the values shown will add up to a total of 6 The price of a car is 6000. the selling price after 10% of markup is