249.88 dollars
$500 x (1.09)4 = $705.79 (rounded)
Your going to fail the test.
The annual equivalent rate is 15.5625%. The amount invested is irrelevant to calculation of the equivalent rate.
$2,500 is your answer
249.88 dollars
635.25 500 x (1.005)48
$500 x (1.09)4 = $705.79 (rounded)
14.2067 years.
Your going to fail the test.
The annual equivalent rate is 15.5625%. The amount invested is irrelevant to calculation of the equivalent rate.
jenny has thrice as much money invested in 15% as she invested at 12%. if she gets 51,300.00 from both investment how much did she invest at each rate?
below two percent
$2,500 is your answer
Sorry I really don't know.
72
The answer depends on the rate of interest.