The annual interest rate needed to reach the given amount in five years is 4.47%.
Hence, option B) is the correct answer.
<h3>What is the annual interest rate needed?</h3>
Compound interest is expressed as;
A = P( 1 + r/n )^(nt)
Making rate r the subject of the formula;
r = n[ (A/P)^(1/nt) - 1 ]
Given that;
- Principal P $2000
- Final Amount A = $2500
- Number of times interest applied per time period n = monthly = 12
- Time t = 5
We substitute into our formular above
r = n[ (A/P)^(1/nt) - 1 ]
r = 12[ (2500/2000)^(1/(12×5)) - 1 ]
r = 12[ (1.25^(1/60) ) - 1 ]
r = 12[ 1.0037598 - 1 ]
r = 12[ 0.0037598 ]
r = 0.447
Next we convert to percentage
r = 0.447 × 100%
r = 4.47%
The annual interest rate needed to reach the given amount in five years is 4.47%.
Hence, option B) is the correct answer.
Learn more about compound interest here: brainly.com/question/13155407
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Answer:
b= 29/11
Step-by-step explanation:
2b+8−5b+3=−13+8b−5
Step 1: Simplify both sides of the equation.
2b+8−5b+3=−13+8b−5
2b+8+−5b+3=−13+8b+−5
(2b+−5b)+(8+3)=(8b)+(−13+−5)(Combine Like Terms)
−3b+11=8b+−18
−3b+11=8b−18
Step 2: Subtract 8b from both sides.
−3b+11−8b=8b−18−8b
−11b+11=−18
Step 3: Subtract 11 from both sides.
−11b+11−11=−18−11
−11b=−29
Step 4: Divide both sides by -11.
−11b/−11 = −29/−11
b= 29/11
Answer:
C
Step-by-step explanation:
-5.5-11.2
change the subtraction to addition
5.5+11.2= 16.7
Answer:
(5, -8)
General Formulas and Concepts:
<u>Pre-Algebra</u>
Order of Operations: BPEMDAS
- Brackets
- Parenthesis
- Exponents
- Multiplication
- Division
- Addition
- Subtraction
Distributive Property
Equality Properties
- Multiplication Property of Equality
- Division Property of Equality
- Addition Property of Equality
- Subtraction Property of Equality<u>
</u>
<u>Algebra I</u>
- Terms/Coefficients
- Coordinates (x, y)
- Solving systems of equations using substitution/elimination
Step-by-step explanation:
<u>Step 1: Define Systems</u>
5x + 2y = 9
y = -x - 3
<u>Step 2: Solve for </u><em><u>x</u></em>
<em>Substitution</em>
- Substitute in <em>y</em>: 5x + 2(-x - 3) = 9
- [Distributive Property] Distribute 2: 5x - 2x - 6 = 9
- Combine like terms: 3x - 6 = 9
- [Addition Property of Equality] Add 6 on both sides: 3x = 15
- [Division Property of Equality] Divide 3 on both sides: x = 5
<u>Step 3: Solve for </u><em><u>y</u></em>
- Define original equation: y = -x - 3
- Substitute in <em>x</em>: y = -5 - 3
- Subtract: y = -8
Answer:
B) $150 for 15 hours
C) 25 hours
Step-by-step explanation:
B) (15, 150)
C) (25, 250)