The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.
<h3>What is compound interest?</h3>
The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.
The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.
Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.
Using the formula A = P(1 + r/n)^nt
Solving for rate r as a decimal
r = n[(A/P)^(1/nt) - 1]
r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]
r = 0.1
Then convert r to R as a percentage
R = r × 100
R = 0.1 × 100
R = 10%/year
Learn more about compound interest
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Since x and y must be positive, 7x and 11y are positive either. That means 7x + 11y > 0. Then we would obtain N > 0 because 7x + 11y = N. That also means N must be positive. So if we set N to be zero or negative, there would be no solution. Thus, to produce an answer of No solution, the highest number N could be is 0.
Answer:
1/50
Step-by-step explanation:
Given that:
- Three men: 3
- Seven women = 7
- Total number of people: 7+3 =10
We need to find the probability that no man will be interviewed until at least two women have been interviewed. So there are two possible probabilities are:
1. One man and two women => P(1 man and 2 women) = 3/10*2/9 = 1/15
2. Three women => P(3 women) = 3/10
Hence, the probability in this situation is: 1/15*3/10 = 1/50
Answer:
The first one on the left
Step-by-step explanation:
Answer:
The equation that matches the function shown is option;
C. 
Step-by-step explanation:
The given graph of the function is a sinusoidal graph
The values of 'x' and 'y' coordinates at the maximum, x-intercept and minimum points are given as follows;
x, 
y
0 0
π 1
2·π 0
3·π -1
4·π 0
We note that sin(π/2) = 1, sin(π) = 0 sin(3·π/2) = -1, and sin(4·π/2) = sin(2·π) = 0
Therefore;
y = the sine of half the x-value
Which is presented as follows;
.
