help!!!Maths(interest rate)
2010-03-15 3:28 am
Peter borrows $20000 from a bank for 24 months. He has to repay $25000 after 2 years. Find the annual interest rate if the interest is compounded monthly?(correct to 2 decimal places)
回答 (2)
2010-03-15 3:52 am
✔ 最佳答案
Let x be interest.20000(1+x)^24=25000
(1+x)^24=1.25
24log(1+x)=log1.25
log(1+x)=log1.25/24
1+x=1.00934
x=0.00934
annual interest rate =0.00934*12*100%
=0.1121*100%
=11.21%
2010-03-24 3:25 am
Let x be interest.
20000(1+x)^24=25000
(1+x)^24=1.25
24log(1+x)=log1.25
log(1+x)=log1.25/24
1+x=1.00934
x=0.00934
annual interest rate =0.00934*12*100%
=0.1121*100%
=11.21%
20000(1+x)^24=25000
(1+x)^24=1.25
24log(1+x)=log1.25
log(1+x)=log1.25/24
1+x=1.00934
x=0.00934
annual interest rate =0.00934*12*100%
=0.1121*100%
=11.21%
收錄日期: 2021-04-24 23:27:51
原文連結 [永久失效]:
https://hk.answers.yahoo.com/question/index?qid=20100314000051KK01519