Solve. 5x 5 = 4x 10 x =
1 answer:
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Answer:
Interest= $ 18.73
Step-by-step explanation:
Given : $600 at 9.5% for 120 days
To find : Find the interest due
Solution :
Simple interest formula
Principle(P)=$600 , rate(r)=9.5%=0.095 , time (t)= 120 days
In years, 1 year = 365 days
1 day = year
120 days = year
Put values in the formula
Therefore, Interest= $ 18.73
Answer:
The value of annuity is
Step-by-step explanation:
From the question we are told that
The periodic payment is
The interest rate is
Frequency at which it occurs in a year is n = 4 (quarterly )
The number of years is
The value of the annuity is mathematically represented as
(reference EDUCBA website)
substituting values