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how to use the formula ap1rt. A9000000 P80000 t40 I have done this problem over a over and still get the wrong answer. A P1 r t.
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If no more deposits or withdrawls are made about how much money will be in the account after five years. Use the compound interest formula AP1rt and the given information to solve for r. An account earning interest at a rate of 4 has a principal of 500000.
P Principal Amount.
Round answers to he nearest cent. You then subtract that answer by 1 to get your interest rate in decimal form. Answer provided by our tutors r 005 or 5 annual interest rate t 3 years. Use the formula AP 1rt to find the rate r at which 2000 compounded annually grows to 2420 in 2 years.
