Concept explainers
Financial Planner One part of the job of a financial planner is to help people invest their money appropriately. If a customer knows he or she will need a certain amount of money in 10 or 20 years the financial planner can help the customer plan how much needs to be invested today and and at what rate in order to have that amount When a principal P earns an annual interest rate r compounded yearly the amount A after t years is
What interest rate would be necessary to obtain $6500 in 6 years if $5000 is the amount of the original investment and the interest is compounded yearly? (Express the interest rate as a percent rounded to the nearest tenth.)
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Intermediate Algebra (8th Edition)
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