Answer:
No, equivalent quarterly rate will be approx 1.75%
Step-by-step explanation:
Given that Chan deposited money into his retirement account that is compounded annually at an interest rate of 7%.
We know that there are 4 quarters in 1 year.
So to find that equivalent quarterly we will divide given yearly rate by number of quarters.
That means divide 7% by 4.
which gives 1.75%.
But that is different than Chan's though of 2% quarterly interest.
Hence Chan is wrong.
i have answered this question before let me post an image
Answer:
r = 3.
Step-by-step explanation:
Equation of a line:
The equation of a line has the following format:
In which m is the slope.
Finding the slope of a line, given two points:
When we are given two points of a line, the slope of the line is given by the change in y divided by the change in x.
Points (4,r), (r,3)
Change in y: 3 - r
Change in x: r - 4
Slope is 0, so:
The value is r = 3.