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Popolare Word Problems >

Conner invested 1000 dollars in a account 5 years ago. The balance is 1216.55 dollars now. What is the interset rate?

Soluzione

C o nn er in v es t e d 1000 d o ll a rs in a a cco u n t 5 ye a rs a g o . T h e ba l an ce i s 1216.55 d o ll a rs n o w . Wha t i s t h e in t erse t r a t e ?

Soluzione

Rate : 4.331%

Fasi della soluzione

Translate the problem into an equation:

1216.55 = 1000 (1 + r \cdot 5)

Risolvi per

r, 1216.55 = 1000 (1 + r \cdot 5) : r = 4.331%

Rate : 4.331%

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