Answer:
Effective annual yield = 0.05094534 or 5.094%
Step-by-step explanation:
Given:
Rate of interest (r) = 5% = 0.05
Interest = compounded quarterly
Find:
Effective annual yield = Y
Computation:
Effective annual yield = 0.05094534 or 5.094%
At Pam's Beading Boutique, 22% of the 1,850 beads on clearance are plastic. How many plastic beads are there on clearance?
1 answer:
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So, after one year will will have the new population of 23 000 * (100 %+2%)
(the 100 % is the old population and the 2% is the increase), that is:
23000*1.02=23460
(102 % can be represented as 1.02)
And for the next years, we have to repeat the procedure.
a more generic rule would be:
y=23000*
(x is the number of years passed)
(the 100 % is the old population and the 2% is the increase), that is:
23000*1.02=23460
(102 % can be represented as 1.02)
And for the next years, we have to repeat the procedure.
a more generic rule would be:
y=23000*