Verified Answer :

baseballboyg

The original equation is \(A = P(1+\frac{r}{n})^{nt}\)


Where P is original value;
r is interest rate in decimal;
t is time;
n is how many times per year you invest

So r is your interest rate.  To get it to a percentage, just multiply by 100 to ger 4.74%!


David1993

Hi, we have the formula to the compound interest

A = P. ( 1 + R) ^t

A = 368,298.( 1 + 0.0474)^30

A = 368,298.( 1,0474)^30

A = 1.477,666 $

Interest = A - P

In = 1.477,666 - 368,298

In = 1.109,37 $

Now, if this by simples interest

The formula would be:

I = P × R × T

I = 368,298 × 0,0474 × 30

I = 523,719 $

, ah, as R = r/100 <=> r = 100× R <=> 4,74%

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