Hi Folks would anyone know the formula and working example of the below question? many thanks

1.331 = 1(1+r) to power of 3 so cube root of 1.331 is 1.1 so r is 10% as n is 1

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Calculate the compound interest rate

24-05-2022 3:19pm

#1

siochain

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Hi Folks
would anyone know the formula and working example of the below question?
many thanks

0

Best Answers

#1 24-05-2022 3:45pm

Calahonda52

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Screenshot 2022-05-24 at 15.41.19.png

1.331 = 1(1+r) to power of 3 so cube root of 1.331 is 1.1 so r is 10%

as n is 1

“I can’t pay my staff or mortgage with instagram likes”.

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#1 24-05-2022 5:36pm

siochain

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super, thanks

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#2 24-05-2022 3:39pm

Calahonda52

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Its obviously a multiple choice. answer is 10%
1 *1.1= 1.1
1.1*1.1 = 1.21
1.21*1.1 = 1.331

“I can’t pay my staff or mortgage with instagram likes”.

0