Answer:
The answer is 8.24%.
Step-by-step explanation:
The rate r = 8% is for 1 year or 52 weeks.
As given there are 13 weeks term so total there will be = 4 terms.
So, n = 4
The effective interest rate R is given by:
R = 
= 
= 
= 0.0824
And in percentage, it is 8.24%.
Answer:
The answer will be 40!!!!!!!!!!
Answer:
Step-by-step explanation:
(10 - 8)/(-21 + 9)= 12/-12= -1
y - 8 = -1(x + 9)
y - 8 = -x - 9
y = -x - 1
Oliver withdraws an amount of $285.10 from his saving account
His saving account earns 1.8% annually
The interest Oliver could have earned in five months:
Monthly interest = Annual interest ÷ 12
Monthly interest = 1.8% ÷ 12
Monthly interest = 0.018 ÷ 12 = 3/2000
After five months = Principle × (1 + interest)ⁿ
After five months = 285.10 × (1 + 0.018)⁵
After five months = 311.70
Interest earned = 311.70 - 285.10 = $26.60
