The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.
<h3>What is compound interest?</h3>
The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.
The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.
Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.
Using the formula A = P(1 + r/n)^nt
Solving for rate r as a decimal
r = n[(A/P)^(1/nt) - 1]
r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]
r = 0.1
Then convert r to R as a percentage
R = r × 100
R = 0.1 × 100
R = 10%/year
Learn more about compound interest
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Answer:
-10, -2, 5
Step-by-step explanation:
First, you can start by making a table.
<u>Negative | Positive</u>
-10 | 5
-2 |
The positive number is obviously the greatest, so now we look at the negative numbers. If the numbers were on a number line, -10 would be more to the left than -2, so it's the least. That leaves -2, which is greater than -10 but less than 5.
Answer:
72.2 square meter
Step-by-step explanation:
(3.8)(3.8)= 14.44
(14.44)(5)=72.2
Answer: $3,400
Step-by-step explanation:
There are 400 seats in the auditorium which means that there are 400 tickets to be sold.
85% of these tickets are sold. The number of tickets sold is:
= 85% * 400
= 340 tickets were sold.
Each ticket sells for a total of $10.
The amount of money made from ticket sales is therefore:
= No. of tickets sold * price of ticket
= 340 * 10
= $3,400
u is at (1,-2)
V is at (-6,-6)
using distance formula it is about 8.06 long
so Answer is C
