Question

Using Pe^rt, find the r(rate). A=786,000, P=247,000, t=17​

Answer 1

To find the rate (r) using the formula Pe^rt, substitute the given values A = 786,000, P = 247,000, and t = 17. By rearranging the equation, we have r = ln(P/A)/t. Calculating the value, r ≈ 0.1239 or approximately 12.39%.

Step-by-step explanation:

To find the rate (r) using the formula Pe^rt, let's substitute the given values: A = 786,000, P = 247,000, and t = 17. We can rewrite the formula as P = Ae^(rt). By rearranging the equation, we have r = ln(P/A)/t. Substituting the values, we get r = ln(786,000/247,000)/17. Using a calculator, we find that r ≈ 0.1239 or approximately 12.39%.