1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bearhunter [10]
3 years ago
11

What is the effective rate of a $30,000 non-interest-bearing simple discount 5%, 60-day note?

Mathematics
2 answers:
harkovskaia [24]3 years ago
8 0

Answer:

The effective rate is R=5.04%

Step-by-step explanation:

Consider the provided information.

We need to find the effective rate of a $30000.

Interest Rate is 5% or 0.05.

Sometimes bankers calculate interest on a 360-day year for comfort.

Therefore, I can be calculated as:

I = Principal x Interest Rate x Frequency of a year

Principal = 30000, Interest Rate = 0.05 and Frequency of a year = 60÷360

I=30,000\times0.05\times \frac{60}{360}

I=1500\times \frac{1}{6}

I=250

Thus, cash in hand at the beginning of 60 days is:

p = 30,000 − 250 = 29750

The effective rate can be calculated as:

R=\frac{I}{pt}

R=\frac{250}{29,750\times \frac{60}{360}}

R=\frac{250}{4958.3}

R=0.0504

or

R=5.04%

Hence, the effective rate is R=5.04%

balu736 [363]3 years ago
5 0
30000 due at the end of 60 years
I'll assume that the number of days in year is 360
I=30,000×0.05×(60÷360)=250

Cash in hand at the beginning of 60 days is
30,000−250=29,750

The effective rate is
R=I÷pt
R=250÷(29,750×(60÷360))
R=0.0504×100
R=5.04%
You might be interested in
Multiply 3/sqrt17- sqrt2 by which fraction will produce an equivalent fraction with rational denominator
zzz [600]

Answer:

B.

Step-by-step explanation:

To simplify something that looks like \frac{\text{whatever}}{\sqrt{a}-\sqrt{b}} you would multiply the top and bottom by the conjugate of the bottom. So you multiply the top and bottom for this problem I just made by:

\sqrt{a}+\sqrt{b}.

If you had  \frac{\text{whatever}}{\sqrt{a}+\sqrt{b}}, then you would multiply top and bottom the conjugate of \sqrt{a}+\sqrt{b} which is \sqrt{a}-\sqrt{b}.

The conjugate of a+b is a-b.

These have a term for it because when you multiply them something special happens.  The middle terms cancel so you only have to really multiply the first terms and the last terms.

Let's see:

(a+b)(a-b)

I'm going to use foil:

First:  a(a)=a^2

Outer: a(-b)=-ab

Inner:  b(a)=ab

Last:    b(-b)=-b^2

--------------------------Adding.

a^2-b^2

See -ab+ab canceled so all you had to do was the "first" and "last" of foil.

This would get rid of square roots if a and b had them because they are being squared.

Anyways the conjugate of \sqrt{17}-\sqrt{2} is

\sqrt{17}+\sqrt{2}.

This is the thing we are multiplying and top and bottom.

3 0
3 years ago
Read 2 more answers
Which expression is equivalent to the expression -3 (4r - 2) -2r?
liubo4ka [24]

Answer:

-14r + 6

Step-by-step explanation:

-12r + 6 - 2r

3 0
2 years ago
DIVIDE. Show how you used partial quotients to find your answer.<br><br> 1,562 ÷ 34
Temka [501]
1562 divided by 35= 45 with a remainder of 32
6 0
3 years ago
Cloud seeding has been studied for many decades as a weather modification procedure. The rainfall in acre-feet from 20 clouds th
kow [346]

Answer:

Kindly check explanation

Step-by-step explanation:

Given the data:

X : 18.0, 30.7, 19.8, 27.1, 22.3, 18.8, 31.8, 23.4, 21.2, 27.9, 31.9, 27.1, 25.0, 24.7, 26.9, 21.8, 29.2, 34.8, 26.7,31.6

True standard deviation (σ) = 4

α = 0.01

Mean (m) of the data:

Σ(X) /n = 520.7/20

m = 26.035 = 26.04

Uaing calculator :

Sample standard deviation (s) = 4.785

Null hypothesis : μ = 25

Alternative hypothesis : μ > 25

Test statistic (t) : (m - μ) / (s/√n)

t = (26.04 - 25) / (4.785/√20)

t = 0.972

We can obtain the p value using the pvalue from t score calculator :

df = n - 1 = 20 - 1 = 19

Decision:

If p < 0.01 ; reject null

p(0.972, 19) = 0.1716

Since p > 0.1716 ; we fail to reject the Null

6 0
2 years ago
consider the quadratic functio. f(x)=x2-5x+6 what are the values of the coefficients and constant in the function​
eduard

Answer:

1and5 are coefficients6is a constant

Step-by-step explanation:

6 0
2 years ago
Other questions:
  • Lines
    15·1 answer
  • 4)
    14·2 answers
  • Describe in detail how you would create a number line with the following points: 1, 3.25, the opposite of 2, and – (–4fraction o
    14·2 answers
  • Please help me ASAP thank uu
    11·1 answer
  • Please help me solve this problem!!!
    9·1 answer
  • Tommy is drawing a triangle with angles measuring 41° and 123°, and the included side measures 6 cm.
    7·1 answer
  • Please select the word from the list that best fits the definition warned that going to a temple was not enough; all must work f
    8·1 answer
  • Someone help and plz make sure it’s right :)
    13·2 answers
  • Write the ratio in simplest form in both fractions and in decimal form.
    14·2 answers
  • Find the total surface area of the following prism.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!