Principal = &325
Rate= ??
Time= one and one half years
Interest= $39
2006-12-20 12:28:59 · 7 answers · asked by megan.lady78 1 in Education & Reference ➔ Homework Help
Easiest way to figure it out is go to a bank website- find finance calculator and use it. That the way I do it. ( Is that cheating/)
2006-12-20 12:34:53 · answer #1 · answered by Dumb Dave 4 · 0⤊ 0⤋
I believe you divide 30 by 325 to get 12%. Not absolutely sure though. If you already KNOW the interest, the time does not become a factor in the equation.
2006-12-20 20:33:51 · answer #2 · answered by The Scorpion 6 · 0⤊ 0⤋
I hope this helps.
p=initial
r=% of interest
n=# of times amount is calculated
t=years (time)
A=P(1+r/n)nt
2006-12-20 20:33:46 · answer #3 · answered by Val 2 · 0⤊ 0⤋
the equation is
A = Pe^rt
plug in variables
364 = 325e^1.5r
1.12=e^1.5r
Ln1.12 = 1.5r
solve for r- i don't have a calculator with me
2006-12-20 20:33:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋
PxRxT=I
325 x R x 1.5 = 39
487.50 R = 39
R = .08
R = 8%
2006-12-20 20:33:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
maybe 8 %
2006-12-20 20:33:50 · answer #6 · answered by rallman@sbcglobal.net 5 · 0⤊ 0⤋
try using your phone thing. it should be in tools
2006-12-20 20:36:11 · answer #7 · answered by AJC 1 · 0⤊ 0⤋