A gourmet pizza café sells three sizes of pizzas. If you buy all three sizes, it costs $46.24. A medium pizza costs $15.75 and a
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Money earned by restaurant on Friday=$1073
Money earned by restaurant on Saturday=$1108
Let Money earned by restaurant on Sunday=$x
Average=$1000
Number of observation=3
⇒ 3× 1000=1073+1108+x
⇒3000= 2 181+x
⇒3000-2181=x
⇒x=819
The restaurant needs to earn on Sunday to average $1000 per day over the three-day period=$819
The effective rate is calculated in the following way:
where r is the effective annual rate, i the interest rate, and n the number of compounding periods per year (for example, 12 for monthly compounding).
our compounding period is 2 since the bank pays us semiannually(two times per year) and our interest rate is 8%
so lets plug in numbers:
where r is the effective annual rate, i the interest rate, and n the number of compounding periods per year (for example, 12 for monthly compounding).
our compounding period is 2 since the bank pays us semiannually(two times per year) and our interest rate is 8%
so lets plug in numbers: