When calculating accrued interest over several years that compounds annually, you must _____.

1 answer:

3 0

When calculating accrued interest over several years that compounds annually, you must calculate a new principle each year, adding the accrued interest from the previous year. At the beginning of the new interest period, all the accrued interest is added to the principal which forms a new principle figure that the interest is then counted on.

You might be interested in

The length of a rectangular plot of land is 10 yards more than its width. If the area of the land 600 square yards , find the di

vagabundo [1.1K]

Let the width of the rectangular plot of land be 'x' yards. Given that the length of the rectangular plot of land is 10 yards more than its width. So, width of the rectangular plot of land = (x + 10) yards. Also given that the area of the rectangular plot of land is 600 square yards. We know that, area of a rectangle = length * width That is, (x+10) * x = 600 x^2 + 10x = 600 x^2 + 10x - 600 = 0 x^2 + 30x - 20x -600 = 0 x(x + 30) - 20(x + 30) = 0 (x +30)(x -20) =0 Therefore, either (x + 30) = 0 or (x - 20) = 0 If x + 30 = 0, then x = -30 and If x - 20 = 0, then x = 20 Since 'x' represents the width of a rectangular plot of land it cannot be negative. Therefore, width of the rectangular plot of land = 20 yards length of the rectangular plot of land= x + 10 = 30 yards

5 0

3 years ago

A car rental agency currently has cars available, of which have a GPS navigation system. Two cars are selected at random from th

Ainat [17]

Answer:

(30/40)*(29/39) = 29/52 =~ 0.55769

Step-by-step explanation:

The probability is calculated assuming the cars were chosen without replacement .

6 0

2 years ago

Use mental math to determine the solution to x - 3 = 10 .

DanielleElmas [232]