Ask a New Question

Asked by dave

At what rate must $500 be compounded for it to grow to 1079.46 in 10 years?

8 percent? i think
15 years ago

Answers

Answered by economyst
correct.
500*(1+r)^10 = 1079.46 -- solve for r.
15 years ago
There are no AI answers yet. The ability to request AI answers is coming soon!

Submit Your Answer


We prioritize human answers over AI answers.

If you are human, and you can answer this question, please submit your answer.

Related Questions

What exactly is political composition? I need to do a powerpoint on the "decade of greed" basicall... find the rate of interest compound semi-annually at which birr 2000 will grow to birr 5000 in 9 year... At what rate percent does compound interest on a sum of money becomes fourfold in 2 years. What is the volume of the composite figure? 2 yd 2yd 2 yd 4.5yd 2yd 5n a sha*e 6f a rectangle (1 p... what is the volume of the composite figure? length- 6 length- 6 width- 2 width- 2 height- 2 he... What is the volume of the composite figure? Shape1: Height3 Length3 Width3 Shape2: Height4 Lengt... What is the volume of the composite figure? 2 2 2 2 6 6 in inches^3 it's a cube what is the volume of the composite figure the numbers are 3 3 3 4 11 what is the volume of the composite figure (there are 2 shapes stacked on top of eachother) the fi... What is the volume of the composite figure? 1st cube 2 by 2 by 2. the middle cube bottom number is...
Submit Your Answer

Question

At what rate must $500 be compounded for it to grow to 1079.46 in 10 years?

8 percent? i think

Ask a New Question
Archives Contact Us Privacy Policy Terms of Use