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almond37 [142]
1 year ago
12

How much interest would $1,000 earn in 1 year at an annual rate of 2% compounded annually

Mathematics
1 answer:
NNADVOKAT [17]1 year ago
6 0

The Compound Interest would be $1104.895

What is Compound Interest ?

The interest charged on a loan or deposit is known as compound interest. It is the idea that we use the most frequently on a daily basis. Compound interest is calculated for an amount based on both the principal and cumulative interest. The main distinction between compound and simple interest is this. If we examine our bank statements, we will typically see that our account is credited with interest on a yearly basis. Even though the principal remains the same, the interest changes annually. We can observe that interest rises over time. As a result, we can infer that the interest the bank charges is compound interest, or CI, rather than simple interest.

Number of quarters in 5years =5×4=20

Quarterly rate of compound interest

r=24=0.5%

Initial amount

P=$1000

hence the total amount after 5years

=  P(1+r/100)n

=1000(1+0.5/100)^20

=1000(1.005)^20

=$1104.895

Hence, The Interest will be $1104.895

To learn more about Compound interest click on the link

brainly.com/question/24924853

#SPJ10

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Step-by-step explanation:

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The produce manager at a market orders 10 lb of​ tomatoes, 20 lb of​ zucchini, and 40 lb of onions from a local farmer one week.
rewona [7]

Answer:

(A) A=\left[\begin{array}{ccc}10&20&40\end{array}\right]

(B) B=\left[\begin{array}{ccc}11&22&44\end{array}\right]

(C) A+B=\left[\begin{array}{ccc}21&42&84\end{array}\right]

Step-by-step explanation:

The manager ordered 10 lb of​ tomatoes, 20 lb of​ zucchini, and 40 lb of onions from a local farmer one week.

(A)

Matrix <em>A</em> represents the amount of each item ordered. ​It is 1 × 3 matrix.

Then matrix <em>A</em> is:

A=\left[\begin{array}{ccc}10&20&40\end{array}\right]

(B)

Next week the manager increases the order of all the products by 10%.

Then the amount of new orders are:

Tomatoes =10\times [1+\frac{10}{100}]=10\times1.10=11

Zucchini =20\times [1+\frac{10}{100}]=20\times1.10=22

Onions =40\times [1+\frac{10}{100}]=40\times1.10=44

Th matrix <em>B</em> represents the amount of each order for the next week. Then matrix <em>B</em> is:

B=\left[\begin{array}{ccc}11&22&44\end{array}\right]

(C)

Add the two matrix <em>A</em> and <em>B</em> as follows:

A+B=\left[\begin{array}{ccc}10&20&40\end{array}\right]+\left[\begin{array}{ccc}11&22&44\end{array}\right]\\=\left[\begin{array}{ccc}(10+11)&(20+22)&(40+44)\end{array}\right]\\=\left[\begin{array}{ccc}21&42&84\end{array}\right]

The entries of the matrix (<em>A</em> + <em>B</em>) represent the amount of tomatoes, zucchini and onions ordered for two weeks.

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3 years ago
A student answers a multiple-choice examination question that offers four possible answers. Suppose the probability that the stu
Salsk061 [2.6K]

Answer:

The value is P(A | W) =  0.941

Step-by-step explanation:

From the question we are told that

The probability that the student knows the answer to the question is P(A) =  0.8

The probability that that the student will guess is P(G) =  0.2

The probability that that the student get the correct answer given that the student guessed is P(W /G) =  0.25

Here W denotes that the student gets the correct answer

Generally it a certain fact that if the student knows the answer he would get it correctly

So the probability the the student got answer given that he knows it is

P(W | A) =  1

Generally from Bayes theorem we can mathematically evaluate the probability that the student knows the answer given that he got it correctly as follows

P(A | W) =  \frac{ P(A) *  P(W | A )}{ P(A) *  P(W | A) + P(G) * P(W| G)}

=> P(A | W) =  \frac{ 0.8 *  1}{ 0.8 *  1+ 0.2 * 0.25}

=> P(A | W) =  0.941

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Answer:

I think it might be 21.6 or just 21

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