Answer:
$936
Step-by-step explanation:
Simple interest is money you can earn by initially investing some money (a.k.a the principal). In return, a percentage (a.k.a the interest) of the initial money invested is added to the principal, this is what makes your initial investment grow.
The equation for simple interest is:
I = P x r x t
P = Principal, $2600
r = interest rate, 12%
t = time involved, 3 years
Fill in the values:
2600 × 0.12 × 3 = $936.00
Answer:
k = 4/5
Step-by-step explanation:
First, rewrite 5/6k as (5/6)k; this is "five sixths of the variable k."
Next, identify the LCD. It is 6. Then the given equation becomes
5k + 4 = 8
Consolidate the constant terms:
5k = 4
Solve for k: k = 4/5
Convert to a mixed number:
239/42
Divide 239 by 42:
4 | 2 | 2 | 3 | 9
42 goes into 239 at most 5 times:
| | | | 5
4 | 2 | 2 | 3 | 9
| - | 2 | 1 | 0
| | | 2 | 9
Read off the results. The quotient is the number at the top and the remainder is the number at the bottom:
| | | | 5 | (quotient)
4 | 2 | 2 | 3 | 9 |
| - | 2 | 1 | 0 |
| | | 2 | 9 | (remainder)
The quotient of 239/42 is 5 with remainder 29, so:
Answer: 5 29/42
Answer:
The continuous yearly interest is 22.5% per year.
Step-by-step explanation:
Continuous yearly interest:
Continuous yearly interest is defined as the sum of the interest comes from principle and the interest comes from interest.
The formula for continuous interest yearly is
where A = The final amount =$110,000
P= principle =$4,700
r= rate of interest
t= time (in year)= 14 years
Taking ln both sides
(approx)
The continuous yearly interest is 0.225 = 22.5% per year.
