Adam put $100 in a savings account. After 10 years, he had $1649 in the

account. What rate of interest did he earn? Use the formula A = Per, where A

is the ending amount, Pis the principal (initial amount), r is the interest rate,

and t is time.

Question

Mathematics

Aracely Daniel

16 November, 03:36

Adam put $100 in a savings account. After 10 years, he had $1649 in the

account. What rate of interest did he earn? Use the formula A = Per, where A

is the ending amount, Pis the principal (initial amount), r is the interest rate,

and t is time.

+3

Answers (1)

Know the Answer?

Jolie Cole · Answer 1

Step-by-step explanation:

hihi, so this is a classic interest rate problem. It's not too bad if you know your properties of e and ln. After establishing the base equation you can divide by 100 then take the natural log of both sides to "get rid" of the e and finally end it by dividing by 10 to isolate r.

Adam put $100 in a savings account. After 10 years, he had $1649 in theaccount. What rate of interest did he earn? Use the formula A = Per, where Ais the ending amount, Pis the principal (initial amount), r is the interest rate,and t is time.

Adam put $100 in a savings account. After 10 years, he had $1649 in the

account. What rate of interest did he earn? Use the formula A = Per, where A

is the ending amount, Pis the principal (initial amount), r is the interest rate,

and t is time.