Question

Matilda invested $5000 at a rate of 7.5%. How much did she have after 6 months ?

Answer 1

Try using this:

A=Ao(1+r)^t

A is your final amount
Ao is your initial amount (5000)
r is % (0.075)
t is time (6)

Also you will need to know how often they are adding the interest, if it is each month then you would put 6 for t otherwise you need to put there what increment of time.

Answer 2

Per^t if interest is compounded constantly if I am remembering correctly

Answer 3

Yup, it will depend how they worded the question :)

Answer 4

Thanks edlevin

Answer 5

Aaron borrowed $200 to finance a VCR at a rate of 8.25% for 1.5 years. How much did he repay altogether?