Jacques deposited $1,900 into an account that earns 4% interest compounded semiannually. After t years, Jacques has $3,875.79 in
2 answers:
You might be interested in
Use Newton's Second Law: Fnet = ma
where Fnet = total net force, m = mass of object, and a = acceleration of object.
You are given Fnet = 26N and m = 4.0kg. Plug them into the equation and solve for a:
The answer is 6.5 m/s^2
where Fnet = total net force, m = mass of object, and a = acceleration of object.
You are given Fnet = 26N and m = 4.0kg. Plug them into the equation and solve for a:
The answer is 6.5 m/s^2
Answer: The actual rate of the mortgage is 5.27%.
Since we're taking two mortgages for a total of $200,000 for 30 years, we can find the actual rate of the mortgage by finding the weighted average of the two rates. The weights in this case will be the proportion of loan taken at each rate
We have
Rates Weights Rates * Weights
4.15 0.80
9.75 0.20
Total 5.27%