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pogonyaev
3 years ago
14

A bank says you can double your money in 8 years if you put $2,000 In a simple interest account. what annual interest rate does

the bank pay?
Mathematics
2 answers:
Monica [59]3 years ago
5 0
A = P*r*t
A = overall value
P = principal (initial value)
r = annual interest
t = time (in years)

Plug in what we have:
4000 = 2000*r*8
Simplify:
0.25 = r
The annual interest is 25%
Viktor [21]3 years ago
3 0

Answer:

the correct answer is 12.5 percent

Step-by-step explanation:

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3 years ago
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GalinKa [24]
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2)\ \ \ 6.94\%\ daily\\\\ \ \Rightarrow\ \  \frac{1}{365} \cdot6.94\% \approx0.019\%\ \ annually\ \ \Rightarrow\ \ p=0.019\\\\ daily\ \Rightarrow\  365\ times\ annually\ \Rightarrow\ 1420\ times\ in\ 4\ years\ \Rightarrow\ n=1420\\\\Sum(6.94\%)=\$10,000\cdot(1+ \frac{0.019}{100})^{1420}=\\ \\.\ \ \ \ \ \ \ \ \ \ \ \ =\$10,000\cdot(1+0,00019)^{1420}\approx\$13096.69\\---------------------------\\\$13,199.29 > \$13,096.69\\\\Ans.\ the\ larger\ amount\ gives\ the\ compounded\ quarterly.
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IMPORTANT NEED RIGHT NOW!! PLEASE HELP!!! WILL VOTE BRAINLIEST!!!
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Likurg_2 [28]

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Step-by-step explanation:

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Ivenika [448]
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