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OpenStudy (anonymous):
if 6200 is invested in a savings account for wich intrest is compounded semi-annually, and if the 6200 turns into 7100 in three years what is the intrest rate of the savings account
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OpenStudy (nincompoop):
A = P(1+(r/n))^(nt) solve for r
OpenStudy (nincompoop):
semi-annually means twice a year or every six months so that means your n = 2 t = 3 nt = 6 rewriting the formula will be A = P(1+(r/2))^(6) solve for r algebraically then plug the numbers in later also works
OpenStudy (nincompoop):
I hope you know algebra
OpenStudy (nincompoop):
NO BUENO? just waiting for the answer to fall from heaven?
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