Answer:
(6.5,3)
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Answer:
3.045%.
Step-by-step explanation:
We are asked to find the corresponding effective interest rate for 3% per year compounded continuously.
We will use effective interest formula to solve our given problem.
, where,
r = Effective interest rate,
e = Mathematical constant,
r = Interest rate in decimal form.
Let us convert given interest rate in decimal form.

Substitute values:




Convert into percentage:

Therefore, the corresponding interest rate would be 3.045%.
Answer:
x ≈ 28.2
Step-by-step explanation:
Δ CAB ≅ Δ CDE then corresponding sides are in proportion, that is
=
, substitute values
=
=
( cross- multiply )
28x = 18.7(14 + x) ← distribute
28x = 261.8 + 18.7x ( subtract 18.7x from both sides )
9.3x = 261.8 ( divide both sides by 9.3 )
x ≈ 28.2 (to the nearest tenth )
Answer:
Amount borrowed from friend = 4000
From Bank = 8000
From insurance = 3200
Step-by-step explanation:
Given that:
Amount borrowed = $15200
Let amount borrowed from friend = x
x at 5% = 0.05x
From Bank = 2x at 8% = 0.08*2x = 0.16x
From insurance = 15200 - (x + 2x) at 4%
From insurance = 15200 - 3x at 4% ; (15200 - 3x)* 0.04 = 608 - 0.12x
Interest paid in first year = $968
Simple interest = principal * rate * time
968 =
968 = (0.05x + 0.16x + 608 - 0.12x)
968 - 608 = 0.05x + 0.16x - 0.12x
360 = 0.09x
x = 360 / 0.09
x = 4000
Hence,
Amount borrowed from friend = 4000
From Bank = 2x = 4000 * 2 = 8000
From insurance = 15200 - (4000 + 8000) = 3200