en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular >

at what rate percent per annum will a some of R640 amount to R774.40 in 2 years,compounded annually

Solution

at what rate percent per annum will a some of R640 amount to R774.40 in 2 years, compounded annually

Solution

Rate : 10%

Solution steps

Translate the problem into an equation:

774.4 = 640 (1 + \frac{r}{1})^{1 \cdot 2}

Solve for

r, 774.4 = 640 (1 + \frac{r}{1})^{1 \cdot 2} : r = 10%

Rate : 10%

Popular Examples

Suppose that 7000 is placed in an account that pays 3% interest compounded each year.Assume that no withdrawals are made from the account. Do not do any rounding. Find the amount in the account at the end of 1 year.What is the area of a triangle with a height of 11 cm and a base of 2 cm?the sum of 6 times a number and 9 is equal to2 circle has area 40 square feet. Find the radius. Round your answer to one decimal place, if necessary. The radius of the circle is feet.Naomi puts 2,000.00 into an account to use for school expenses. The account earns 5% interest, compounded annually. How much will be in the account after 7 years?