Answer:
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Step-by-step explanation:
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Answer:
y + x = 7
Step-by-step explanation:
Standard form should be
y - 9 = -(x+2)
y = -x -2 +9
y + x = 7
The effective annual interest rate is:
i = (1 + 0.064/12)^12 - 1 = 0.066
In year 1: the interest is $613.80 (multiple $9300 by 0.066)
In year 2: the interest is $654.31 (add interest from year 1 to $9300 and multiply by 0.066)
In year 3: the interest is $656.98 (do the same as year 2)
In year 4: the interest is $657.16
The total interest is: $2582.25
The present worth of this amount is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72
The answer is $1999.72.
37.5
9/24=0.375
Move the decimal two places and you get 37.5%
