If a principal P is invested at an annual rate r compounded n times a year, then the amount A at the end of the t years is given byA = P (1+ P (1 + 3)^nt . (one time per year), what is the rate of compound interest so that a principle of OMR 1000 would amount to OMR 4200 after 18 years a. 8.3% b. 6.3% c. 10.3%
If a principal P is invested at an annual rate r compounded n times a year, then the amount A at the end of the t years is given byA = P (1+ P (1 + 3)^nt . (one time per year), what is the rate of compound interest so that a principle of OMR 1000 would amount to OMR 4200 after 18 years a. 8.3% b. 6.3% c. 10.3%
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
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20.If a principal P is invested at an annual rate r compounded n times a year, then the amount A at the end of the t years is given byA = P (1+ P (1 + 3)^nt . (one time per year), what is the rate of compound interest so that a principle of OMR 1000 would amount to OMR 4200 after 18 years a. 8.3% b. 6.3% c. 10.3%
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