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HELP FOR A MEDAL!! ms.Campbell invested $7200 for 2 1/2 years. If she earned $756, at what rate(R) did she invest her money?
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money earned = (investment)*(1+rate/100)^time
plug in your numbers and solve for r
I did ....7200=(756) (?) (2 1/2) I=PRT
I multiplied (756) * (2 1/2) and got 1890 and then divide 7200/ 1890 and got 3.8095238 it's wrong :(
756 = (7200)(1+rate/100)^(2.5)
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(756/7200) = (1+rate/100)^2.5
(756/7200)^(1/2.5) = 1 + rate/100
(756/7200)^(1/2.5) - 1 = rate/100
I got 0.042
oh, whoops, small mistake on my part money earned = 7200+756 ([7200+756]/7200)^(1/2.5) - 1 = rate/100 solve for rate
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Hmmm would it be cross multiply 1.105 1/2.5 ?? :)
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