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Populaire Word Problems >

John Invests 200 dollars for 4 years at r% compound interest. At the end of the 4 years they had 600 in their bank account. What was the interest rate?

Solution

J o hn I n v es t s 200 d o ll a rs f or 4 ye a rs a t r % co m p o u n d in t eres t . A t t h e e n d o f t h e 4 ye a rs t h ey ha d 600 in t h e i r bank a cco u n t . Wha t w a s t h e in t eres t r a t e ?

Solution

Rate : 31.60740 \dots %

étapes des solutions

Translate the problem into an equation:

600 = 200 (1 + \frac{r}{1})^{1 \cdot 4}

Solutionner pour

r, 600 = 200 (1 + \frac{r}{1})^{1 \cdot 4} : r = 31.60740 \dots %

Rate : 31.60740 \dots %

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