Answer:
$395.61
Step-by-step explanation:
The formula for simple interest is:
Where
i is the interest amount
P is the principal amount
r is the rate of interest per time period
t is the time period
Here,
P = 4869
we want to find after 30 months, that converted to years is:
30/12 = 2.5 years
t = 2.5
The annual rate is 3.25% = 0.0325
Now, substituting, we find our answer:
The interest earned is <u>$395.61</u>
Answer:
6/5 or 1.2, they're the same value
Step-by-step explanation:
When it says "rate of change", it's really just asking for the slope. If you don't know what the slope is, essentially how much the y-value increases by whenever x increases by 1. This can be formally defined using the equation: which is essentially
. The subtraction is finding the difference between the two numbers to see how much it's changed by. Btw the order doesn't matter, I could plug in (-3, -2) as (x2, y2) or I could plug it in as (x1, y1) as long as I make sure to input it in correctly. In this example I'll just say (-3, -2) = (x1, y1) and (2, 4) = (x2, y2). Plugging these values into the equation gives you:
that's the rate of change
Answer:
17.5% per annum
Step-by-step explanation:
<u>Given:</u>
Money invested = $20,000 at the age of 20 years.
Money expected to be $500,000 at the age of 40.
Time = 40 - 20 = 20 years
<em>Interest is compounded annually.</em>
<u>To find:</u>
Rate of growth = ?
<u>Solution:</u>
First of all, let us have a look at the formula for compound interest.
Where A is the amount after T years compounding at a rate of R% per annum. P is the principal amount.
Here, We are given:
P = $20,000
A = $500,000
T = 20 years
R = ?
Putting all the values in the formula:
So, the correct answer is <em>17.5% </em>per annum and compounding annually.