We are asked to solve for the interest during the year given that it is compounded monthly, we are given with the formula A = P(1+r)^n. The solution is shown below:
A = P (1+r)^n
A = $5,000 (1+ 3.5/12)^(12*1)
A = $5,000 (1.000292)^12
A = $5,177.84
Speed is given by the formula:
speed=distance/ time
this implies that when we rewrite the above formula for distance we shall have:
distance=speed*time
from our question:
speed=60 mph
time=3 1/2 hours=3.5 hours
thus
distance=60x3.5
=210 miles
the answer is 210 miles
In American English we'd use the word "amount" instead of "sum", and also we'd use the dollar symbol ($) instead of RS (rupees). Instead of "argues," use the word "agrees."
<span>A man borrowed a sum of money and agrees to pay $4820 at the end of the 2nd year and $4200 at the end of the 3rd year to clear the debt. Interest is compounded annually at 5% per annum .find the original amount borrowed.</span>
2 is the correct answer of this question
