Question

use the formula for interest:
P= 100
r= 7.2%
Y= 5
A= ?


a. $15,053.66
b.$360
c. $3600
d. $141.57

Answer 1

I give medals

Answer 2

are we talking simple or compound interest?

Answer 3

assume its compound then

A = 100 (1 + 0.072)^5

Answer 4

yes it was. so a is the answer?

Answer 5

no - work it out on yr calculator

100 * 1.072^5

Answer 6

In any case, 72/7.2 = 10ish. Doubles in about 10 years?
Over only 5 years, this will not be growing much.
The first three answers are not even in the neighborhood of rational suspects.

Answer 7

so its 141.57?

Answer 8

yes

Answer 9

awesome, thanks for the help

Answer 10

yw