Question

If the principal P = $800, the interest I = $400, and time t = 5 years, find the following. Whats the rate? and whats the future value?

Answer 1

u are familiar with the formula right?

Answer 2

yes

Answer 3

ok, hold on the question just hit me

Answer 4

ok

Answer 5

the rate is I / rt right? it should look like this, 400/ (800) (12/5),

Answer 6

Yes

Answer 7

next you switch to this,

Answer 8

Thanks ill try, my brain is dead by now i've being doing homework since this morning and wrting and reasearch...Oh boy I am ready to go to bed. ;0(

Answer 9

you arent the only one.

Answer 10

i'm trying to finish the spanish flvs course

Answer 11

Great!, This is the first time I found this website, I figure to give it a try

Answer 12

i'll ty to fugre it out, hold on

Answer 13

I really apreciated

Answer 14

Send me a private message if you can help me with that question i need another one.

Answer 15

1.2% which = 12%

Answer 16

ok

Answer 17

know the future value?

Answer 18

hold on

Answer 19

sorry ok

Answer 20

FV = 1,200

Answer 21

its 5,500,000

Answer 22

FV = P + I = 800 + 400

Answer 23

im guessing i was a little off on my answer?

Answer 24

srry, i g2g

Answer 25

1,200 = 800 ( 1 + r ) ^5
-> 1 + r = fifth root (1.5)

Answer 26

Thus r = 1 - fifth root (1.5) = 8.45%

Answer 27

@trueseminole Don't worry, we're all learning here :)

Answer 28

Thanks guys ;)

Answer 29

@ChlorophyII, so the answer for that specific question will be 8.5% and 1200 (future value)?

Answer 30

Yes!

Answer 31

ok great! Thanks a lot

Answer 32

@ChlorophyII sorry for taking advantage of your smart brain, but is because i am so tired i can barely think no more, i need 2 more questions would you help?

Answer 33

This is one A car dealer will sell you a used car for $6,219 with $219 down and payments of $113.78 per month for 60 months. What is the APR? (Use the formula on page 156. Round each answer to the nearest tenth.)

Answer 34

and this is another one....Ill pay you if i have too i just dont want to think no more .... Calculate the monthly finance charge for the following credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Assume 365 days in a year. (Round your answer to the nearest cent.)
$3,000 balance, 21% rate, $1,500 payment, adjusted balance method

Answer 35

Just open the new post, we finish it up in no time :)

Answer 36

Where? i open it up?

Answer 37

oh never mind, sorry is my first time here heeh

Answer 38

By the rule, one question per post!

Answer 39

Of course, sorry I didnt know the rules here. ;O)

Answer 40

Also, include the formula with your post will help the solver resolve your questions much more efficiently :)

Answer 41

I posted already