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swat32
3 years ago
7

Solo Savings Bank received an initial deposit of $6000. It kept a percentage of this money in reserve based on the reserve rate

and loaned out the rest. The amount it loaned out was eventually all deposited back into the bank. If this cycle continued indefinitely and eventually the $6000 turned into $200,000, what was the reserve rate?
Mathematics
2 answers:
Sindrei [870]3 years ago
8 0

ANSWER:

Reserve rate = 1.03%

Step by step explanation:

Initial amount = $6000

Total sum = $2,00,000

A G.P(geometric progresssion) series is formed with initial value = 6000

Since the depositing cycle continues infinitely, therefore the sum of G.P formula will be taken for infinite values

S= a\1-r

where s= 2,00,000 (sum)

a=6000  (initial amount)

r= ratio (reserve rate)

2,00,000=   6000\1-r

r = 1.03 %

ad-work [718]3 years ago
8 0

Answer:

3 %

Step-by-step explanation:

i took the thing on apex and got it right sooooo :/ sorry to the math wiz over there lol

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Solve this equation.
Anika [276]

Answer:

Answer:  b = 58/5  or 11 3/5 or 11.6 decimal

Step-by-step explanation:

Solve for b:

b - (3 + 2/5) = 8 + 1/5

Put 3 + 2/5 over the common denominator 5. 3 + 2/5 = (5×3)/5 + 2/5:

b - (5×3)/5 + 2/5 = 8 + 1/5

5×3 = 15:

b - (15/5 + 2/5) = 8 + 1/5

15/5 + 2/5 = (15 + 2)/5:

b - (15 + 2)/5 = 8 + 1/5

15 + 2 = 17:

b - 17/5 = 8 + 1/5

Put each term in b - 17/5 over the common denominator 5: b - 17/5 = (5 b)/5 - 17/5:

(5 b)/5 - 17/5 = 8 + 1/5

(5 b)/5 - 17/5 = (5 b - 17)/5:

(5 b - 17)/5 = 8 + 1/5

Put 8 + 1/5 over the common denominator 5. 8 + 1/5 = (5×8)/5 + 1/5:

(5 b - 17)/5 = (5×8)/5 + 1/5

5×8 = 40:

(5 b - 17)/5 = 40/5 + 1/5

40/5 + 1/5 = (40 + 1)/5:

(5 b - 17)/5 = (40 + 1)/5

40 + 1 = 41:

(5 b - 17)/5 = 41/5

Multiply both sides of (5 b - 17)/5 = 41/5 by 5:

(5 b - 17)/(5 1/5) = 1/5×1/(1/5) 41

1/5×1/(1/5) = 1:

5 b - 17 = 1/5×1/(1/5) 41

1/5×1/(1/5) = 1:

5 b - 17 = 41

Add 17 to both sides:

5 b + (17 - 17) = 17 + 41

17 - 17 = 0:

5 b = 41 + 17

41 + 17 = 58:

5 b = 58

Divide both sides of 5 b = 58 by 5:

(5 b)/5 = 58/5

5/5 = 1:

Answer:  b = 58/5  or 11 3/5 or 11.6 decimal


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3 years ago
WILL GIVE BRAINLIEST!!
Vika [28.1K]
Its T : 400
    H : 20 Hope this help fam because 200 isn't the answer.
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