Step-by-step Answer
PAGE: 320SET: ExercisesPROBLEM: 48
Please look in your text book for this problem Statement

A business purchased for $650,000 in 2005 is sold in 2008 for $850,000

The Prinicipal Income is   .

The total amount is .

Time period is years .

Find the rate of interest when compounded annually.


For annually compounded .

Substitute all the values in the equation.

Therefore,the rate of interest is

The rate of interest is .


"I want to tell you that our students did well on the math exam and showed a marked improvement that, in my estimation, reflected the professional development the faculty received from you. THANK YOU!!!"

June Barnett

"Your site is amazing! It helped me get through Algebra."


"My daughter uses it to supplement her Algebra 1 school work. She finds it very helpful."

Dan Pease

Simply chose a support option

My status

JOIN US ON:     
mathskey.com is not affiliated with any Publisher, Book cover, Title, Author names appear for reference only