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RideAnS [48]
3 years ago
8

Interest earned : $837 principal : $3100 Interest rate : ? time : 6 years

Mathematics
1 answer:
Cloud [144]3 years ago
7 0
Hi,

By definition, interest rate is <span>the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. 

To find interest rate you need the principle, interest earned, and time. 
</span><span>
Solve for Rate (R)

</span><span>Where: r = I / Pt
</span>
I = 837 (dollars) 

P = 3100 (dollars) 

t = 6 (years)

r = 837 / ( 3100 × 6 ) = 0.045

<span>r = 0.045
</span>
*converting r decimal to a percentage
R = 0.045 * 100 = 4.5%/year*

The interest rate required to accumulate simple interest of $ 837.00 from a principal of $ 3,100.00 <span>over 6 years is 4.5% per year.
</span>
In short, rate: 4.5% / year


Faith xoxo
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It is estimated % of all adults in United States invest in stocks and that % of U.S. adults have investments in fixed income ins
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Complete question :

It is estimated 28% of all adults in United States invest in stocks and that 85% of U.S. adults have investments in fixed income instruments (savings accounts, bonds, etc.). It is also estimated that 26% of U.S. adults have investments in both stocks and fixed income instruments. (a) What is the probability that a randomly chosen stock investor also invests in fixed income instruments? Round your answer to decimal places. (b) What is the probability that a randomly chosen U.S. adult invests in stocks, given that s/he invests in fixed income instruments?

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0.929 ; 0.306

Step-by-step explanation:

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3 0
3 years ago
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