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spin [16.1K]
3 years ago
7

An account had an initial deposit made and then interest was applied once a year at a fixed rate. The amount of money, in dollar

s, in the account after t years, was 103(1.02) t . What was the annual interest rate?
Mathematics
2 answers:
Nat2105 [25]3 years ago
8 0
Amount in compound interest = p(1 + r/t)^nt where p is the initial deposit, r = rate, t = number of compunding in a period and n = period.

Here, Amount after t years = 103(1.02)^t
i.e. 1 + r = 1.02
r = 1.02 - 1 = 0.02
Therefore, annual interest rate = 0.02 x 100 = 2%
Natali5045456 [20]3 years ago
4 0

Answer:

The annual interest rate is 20%.

Step-by-step explanation:

Since, we know that,

If an sum of money P is increasing yearly at a fixed rate,

Then the amount after t years,

A=P(1+r)^t

Where, r is the annual rate,

t is the number of years,

Here, the given amount after t years,

A'=103(1.02)^t

By comparing,

1 + r = 1.02

⇒ r = 0.02   ( Subtracting 1 on both sides )

⇒ r = 20 %

Hence, the annual interest rate is 20%.

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In a group of mherchants, 80% of them purchase goods from Asia, and 25% of them purchase goods from Europe. Which of following s
monitta

Answer:

7. 25% of the merchants who purchase goods from Asia also purchase from Europe.

Step-by-step explanation:

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A = a + (A \cap B)

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8 0
3 years ago
HELP PLSSS THIS IS HARD SOMEONE
mariarad [96]

Answer:

The 4th option

Step-by-step explanation:

Mark me as brainliest please

5 0
3 years ago
Can someone please help me with this!!!
Volgvan

Step-by-step explanation:

I am not fully sure what your teacher is aiming for. it friends very much on what you were just discussing in class (which I don't know).

but the first thing coming to mind is a minus sign ("-"). squaring a negative number removed the minus and makes the result equal to squaring the same positive number.

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that is, because a fraction as exponent specifies in its denominator the root to be calculated for the basic value or expression.

so, 1/2 means square root. and yes, square is the inverse function of a square root, and it "undoes" the square root.

in exponent calculation it just means that for exponent 1 to the power of exponent 2 we simply multiply both exponents. and so, 1/2 × 2 = 1

FYI - the numerator still represents an original "to the power of" operation.

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3 years ago
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