Solution

Solution

Solution steps
Translate the problem into an equation:

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7900 dollars is placed in an account with an annual interest rate of 5.5%. How much will be in the account after 11 years, to the nearest cent?You deposit 5000 in an account earning 8% interest compounded monthly. How much will you have in the account in 5 years?what amount must be deposited by a student that pays 2% compounded annually so that after 12 years he will have 100,000What is the compound amount on a loan of ₱50,000 at 6% for 6 years compounded semi-annually?ASUM OF RS 12000 amounts to rupees 17500 in 6 years at the a compound interest compounded half yearly.what is the rate of interest