The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.
<h3>What is compound interest?</h3>
The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.
The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.
Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.
Using the formula A = P(1 + r/n)^nt
Solving for rate r as a decimal
r = n[(A/P)^(1/nt) - 1]
r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]
r = 0.1
Then convert r to R as a percentage
R = r × 100
R = 0.1 × 100
R = 10%/year
Learn more about compound interest
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Answer:
Step-by-step explanation:
<u>1- digit numbers: </u>
- 1 to 9, number of digits = 9
<u>2- digit numbers:</u>
- 10 to 99, number of digits = 2(99 - 9) = 180
<u>3- digit numbers:</u>
- 100 to 999, number of digits = 3(999 - 99) = 2700
This is more than we have, but we know the number of pages is 3-digit.
<u>Let it be x, then we have:</u>
- 9 + 180 + 3(x - 99) = 1074
- 3(x - 99) = 1074 - 189
- 3(x - 99) = 885
- x - 99 = 885/3
- x - 99 = 295
- x = 295 + 99
- x = 394
Ok this is not as hard as it seems
(4.5 feet)^2 times the number of students (13)
20.25 x 13
263.25 is the correct answer
I hope it helps :<
consider first number is = x
formula,
(n / 2)(first number + last number) = sum,
7/2(x+x+6)= 945
2x+6= 945×2/7
2x+6 = 270
2x= 270-6
x=264/2= 132
Answer the smallest number is 132.
Answer: If you want mx + b= y form and you want the y intercept, then the answer would be 2x/7 - 12/7 = y. The y intercept is b, so it is 12/7.
Step-by-step explanation: 2x - 7y = 12
Move -7y to the other side: 2x= 12 + 7y
Subtract 12 to the left side: 2x - 12 = 7y
Then divide 7 into everything: 2x/7 - 12/7 = 7y/7
The 7s in the right side cancel out, so the equation is now: 2x/7 - 12/7 = y
The y intercept is b, which is the second term in the equation, so the
Y Equals : 12/7
I hope this is what you are looking for!
