Have no clue wut to do, plz help?

the formula for a savings account after adding interest is B=P(1+RT) B is the amount in the account, P is the amount invested, R is the interest rate, T is the time (in years) you have 1000 to put into an account for 5 years.

heres the formula

1000+5000x

x= the interest rate.

PLEASE GIVE ME THE ANSWR AND SHOW ME HOW YOU DID IT, THX

1. if a bank offers a 3% interest rate, how much will your balance be in 5 yrs?

2. a saving and loan claims that $1000 will grow to $1200 in 5 yrs. What is thier interest rate?

3. Another back offers 5% interest rate. how much will your balance be at the end of 5 yrs?

4. if the balance was 1350 at the end of 5yrs, what was the interest rate?

Have no clue wut to do, plz help?student loan

You just plug the numbers in and do some math. This bank is ripping you off. It%26#039;s not compounded interest. It%26#039;s a lot more if you get compound interest.

1. B=1000(1 +(.03)(5)) --%26gt;1000(1+.15)--%26gt;1000(1.15)=1150

2. 1200=1000(1+R(5)) ---%26gt; 1200=1000 + 5000R ---%26gt;200 = 5000R ---%26gt; R = .04 or 4% interest rate.

3. B = 1000(1 + .05(5)) B = 1250

4. 1350 = 1000 (1 +R(5)) --%26gt; 350 =5000R --%26gt; R = .07 or 7% interest rate.

Have no clue wut to do, plz help?

loan

sorry cant help.I am just opening a bank account///////////////