The nominal rate to plug in will be 0.085.
Given to us, the nominal rate is 8.5%,
The value to plug into your equation,
The equation can be simple interest or compound interest in both cases the value of the nominal rate to the plugin will be the same.
Thus, the nominal rate is 8.5% can be written as
Hence, the nominal rate to plug in will be 0.085.
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Thulani goes to both the library and the market for 5 more times during the year.
Step-by-step explanation:
Thulani goes to the library every 7 days. He goes to the market every 4 days.
We have to calculate the Least Common Multiple (LCM) to analyze the next common day on which he will go to both places.
The factors of 7 are: 1 x 7
The factors of 4 are: 2 x 2
Therefore, the LCM would be = 1 x 7 x 2 x 2
LCM = 28
LCM indicates that Thulani will go to both places on every 28th day.
To calculate the number of times (n) he will go to both places on same day. We can use the formula mentioned below:'
Here frequency represents the LCM = 28.
The number of days are:
August: 30 (we are excluding 1st August)
September: 30
October: 31
November: 30
December: 31
Total = 152
By putting the values in formula, we get
n = 5.42
As, the number of times can only be a whole number. Therefore, Thulani goes to both the library and the market for 5 more times during the year.
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Keywords: LCM, same day
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