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Popular Word Problems >

Carlos invests 4540 at a rate of r% per year compound interest.At the end of 10 years he has earned 1328.54 in interest.Calculate the value of r

Solution

C a r l os in v es t s 4540 a t a r a t e o f r % p er ye a r co m p o u n d in t eres t . A t t h e e n d o f 10 ye a rs h e ha s e a r n e d 1328.54 in in t eres t . C a l c u l a t e t h e v a l u e o f r

Solution

Amount : 5868.54

Solution steps

Translate the problem into an equation:

A = 4540 + 1328.54

Simplify

A = 4540 + 1328.54

Amount : 5868.54

Popular Examples

query=7 decreased by twice a number is 11 12 is 75% of what number The result of doubling a number is at most 30, what is the number?You deposit 3000 in an account that earns 3.8% annual interest compounded continuously. Find the balance of your account after 5 years the difference of two numbers is 4. Thrice the first number plus twice the second number is 28.