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Questions: Algebra BusinessCalculus
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$69940.00 is invested for 12 years using simple interest. If the future value is $93439.84, what is the intrest rate. Round you answer to the nearest tenth of a percent. \(\displaystyle
\)Using \(\displaystyle FV = PV +PVrt \iff FV - PV = PVrt \iff r = \frac{FV - PV}{PVt}\). Evaluating gives \(\displaystyle r = \frac{93439.84-69940 }{(69940)(12) } = 0.028 = 2.8%\)
\begin{question}\$69940.00 is invested for 12 years using simple interest. If the future value is \$93439.84, what is the intrest rate. Round you answer to the nearest tenth of a percent. $
\soln{9cm}{Using $FV = PV +PVrt \iff FV - PV = PVrt \iff r = \frac{FV - PV}{PVt}$. Evaluating gives $r = \frac{93439.84-69940 }{(69940)(12) } = 0.028 = 2.8\%$}
\end{question}
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\begin{document}\begin{question}(10pts) The question goes here!
\soln{9cm}{The solution goes here.}
\end{question}\end{document}<p> <p>$69940.00 is invested for 12 years using simple interest. If the future value is $93439.84, what is the intrest rate. Round you answer to the nearest tenth of a percent. <img class="equation_image" title=" \displaystyle </p> " src="/equation_images/%20%5Cdisplaystyle%20%3C/p%3E%20" alt="LaTeX: \displaystyle </p> " data-equation-content=" \displaystyle </p> " /> </p>
<p> <p>Using <img class="equation_image" title=" \displaystyle FV = PV +PVrt \iff FV - PV = PVrt \iff r = \frac{FV - PV}{PVt} " src="/equation_images/%20%5Cdisplaystyle%20FV%20%3D%20PV%20%2BPVrt%20%5Ciff%20FV%20-%20PV%20%3D%20PVrt%20%5Ciff%20r%20%3D%20%5Cfrac%7BFV%20-%20PV%7D%7BPVt%7D%20" alt="LaTeX: \displaystyle FV = PV +PVrt \iff FV - PV = PVrt \iff r = \frac{FV - PV}{PVt} " data-equation-content=" \displaystyle FV = PV +PVrt \iff FV - PV = PVrt \iff r = \frac{FV - PV}{PVt} " /> . Evaluating gives <img class="equation_image" title=" \displaystyle r = \frac{93439.84-69940 }{(69940)(12) } = 0.028 = 2.8% " src="/equation_images/%20%5Cdisplaystyle%20r%20%3D%20%5Cfrac%7B93439.84-69940%20%7D%7B%2869940%29%2812%29%20%7D%20%3D%200.028%20%3D%202.8%26%2337%3B%20" alt="LaTeX: \displaystyle r = \frac{93439.84-69940 }{(69940)(12) } = 0.028 = 2.8% " data-equation-content=" \displaystyle r = \frac{93439.84-69940 }{(69940)(12) } = 0.028 = 2.8% " /> </p> </p>