John Smith has found a short-term investment opportunity. He can invest $6,000 at 0.75 % interest for 15 days. How much intere
1 answer:
Answer:
$45.16
Step-by-step explanation:
Given:
Principle amount = $6,000
Rate of interest, r = 0.75%
Duration = 15 days
Since, the interest is compounded daily
Future value =
or
Future value =
or
Future value = $6045.16
Therefore,
the interest earned = Future value - Principle amount
or
The interest earned = $6045.16 - $6000 = $45.16
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Answer:
The American population was 20% of the British population.
Step-by-step explanation:
Let us call the american population,
the British population before the migration, and
the population that migrated from America to Britannia.
Now, the population that migrated was 20% of the american population:
,
and the same population increase the British population by 4%:
Combining equation (1) and (2) we get:
Thus, the American population was 20% of the British population.