Answer:
When CPI data is collected, what does the index value represent. Prices used to compute CPI are collected during the entire month, and that data is published monthly. So, the index value represents an estimate of the price level for the month as a whole, rather than a specific date.
Step-by-step explanation:
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Answer:
The interest rate is 7.58%
Step-by-step explanation:
Compound continuous interest can be calculated using the formula:
A = P
, where
- A is the future value of the investment, including interest
- P is the principal investment amount (the initial amount)
- r is the interest rate in decimal
- t is the time the money is invested for
∵ Angus has $3,000 he want to invest
∴ P = 3000
∵ The interest rate is compounded continuously
∵ Angus has $5,500 in 8 years
∴ A = 5500
∴ t = 8
→ Substitute them in the rule above to find r
∵ 5500 = 3000
→ Divide both sides by 3000
∴
= 
→ Insert ㏑ in both sides
∵ ㏑(
) = ㏑(
)
→ Remember ㏑(
) = n
∴ ㏑(
) = 8r
→ Divide both sides by 8
∴ 0.07576697545 = r
→ Multiply it by 100% to change it to a percentage
∴ r = 0.07576697545 × 100%
∴ r = 7.576697545 %
→ Round it to the nearest hundredth
∴ r ≅ 7.58
∴ The interest rate is 7.58%
Its asking to find an answer between 9 and 7 so the answer would be 8
Answer:
You mean improper fraction?
3 x 8 = 24
24 + 3 = 27
27/8