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Dvinal [7]
3 years ago
5

Norris currently has an account balance of $3,703.05. He opened the account 25 years ago with a deposit of $1,725.95. If the int

erest compounds monthly, what is the interest rate on the account? (3 points)
Mathematics
1 answer:
nordsb [41]3 years ago
7 0

Answer:

R = 3.057% per year

Step-by-step explanation:

This is a compound interest question

From the question, we have the following information

P = Principal = $1,725.95.

A = Amount after 25 years = $3,703.05

T = Time = 25 years

n = Compounding frequency = compounded monthly = 12

r = interest rate = ???

The formula to calculate the interest rate in a compound interest question =

r = n[(A/P)^1/nt - 1]

r = 12[($3,703.05/$1,725.95)^1/12× 25 - 1]

r = 3.057%

Therefore, the interest rate on the account is 3.057%

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Answer:

x=-7

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We can write them both like functions like this

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We want the output of A 3 times the output of B this can be written like this:

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we replace with the functions

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we solve for x

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3 years ago
A house wife forgot her bank'Atm pin'which is a four digit number,but luckily she remembered some hints on how to recall this 'p
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4829

Step-by-step explanation:

If the first digit is half of the second, that means the second is 2 times the first

So let's solve this algebraically...

The first digit could be called <em>a</em>

The second digit would have to be 2 times a (2a)

We can call the 3rd digit b

Since the sum of the second and third digit is 10, the equation would be this..

2x + b = 10, which is the same as b = 10 - 2x

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So the four digits are...

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They are all equal to 23, which means...

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After simplifying...

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After you plug all that back into the prior equation you should get

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Thank me later :)

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Answer:

As a percent: 115%

As a decimal: 1.15

As a fraction: \frac{23}{20}

Step-by-step explanation:

<u>Percentages</u>

Suppose Michael spends some amount of money on food, and that money is set at 100%. He leaves a 15% tip for the waitress.

Thus, he is really paying 100%+15% = 115% of the original price.

To express a percentage as a decimal, we just divide by 100:

115% = 115/100 = 1.15

The same division should be simplified instead of operated to express the percentage as a fraction:

115% = \frac{115}{100}

Simplifying by 5:

115% = \frac{23}{20}

Summarizing:

As a percent: 115%

As a decimal: 1.15

As a fraction: \frac{23}{20}

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3 years ago
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