Answer:
the answer depends on which type of interest we use:
- simple interest rate = 24%
- compound interest rate = 26.82%
Step-by-step explanation:
the interest rate paid for holding the cards one month 1/50 or 2%.
to convert 2% monthly interest rate to a simple annual rate:
monthly rate x 12 months = 2% x 12 = 24%
now to convert 2% monthly interest rate to an annual rate (using compound interest):
- = (1 + r)ⁿ - 1
- = (1 + 0.02)¹² - 1 = 1.2682 - 1 = 0.2682 or 26.82%
in compound interest, earned interest earns even more interest by itself besides the interest earned by the principal.
8.4617....
Hope this helped you :)
T1 + t2 = 2h and 30min;
t1 * 600 = t2 * 400 => t2 = (3/2) * t1;
then, t1 + (3/2) * t1 = 2h and 30min => 2t1 + 3t1 = 5h => 5*t1 = 5h => t1 = 1h => t2 = 1h and 30 min;
The distance is 2 * 1 * 600 = 1200miles;
Answer:
Option A for part A and $79 for part B
Step-by-step explanation:
Answer:
1- 4.76
Step-by-step explanation: