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Scilla [17]
3 years ago
8

what interest rate is needed to turn $2500 into $15,000 in 14 years if interest is compounded weekly?

Mathematics
1 answer:
Anastasy [175]3 years ago
7 0

Answer:

0.6845% per week.

Step-by-step explanation:

Simple Interest Calculation A = P(1 + rt)

Solving our equation:

r = (1/730.5)((15000/2500) - 1) = 0.00684463

r = 0.00684463

Converting r decimal to R a percentage

R = 0.00684463 * 100 = 0.6845%/week

Calculating the annual rate

0.6845%/week × 52 weeks/year = 35.594%/year.

The interest rate required to get a total amount, principal plus interest, of $15,000.00 from simple interest on a principal of $2,500.00 over 14.05 years (730.5 weeks) is 0.6845% per week.

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Chocolate Chips cost $2.25 and Walnuts cost $3.25 per pound each

Step-by-step explanatChocion:

Let x = cost of pounds of chocolate chip cookies and y = cost of pounds of walnuts.

From the question, we get 5x+3y = 21 and 2x+6y = 24. To solve the equation, we use substitution. From the first equation, we get y = (21-5x)/3. We substitute the y into the second equation to get 2x + 6(21-5x)/3 = 24. This turns out to be 2x+(42-10x) = 24. Adding like terms you should get 42-8x = 24. Solving for x, x = $2.25 per pound. Plugging this into the first equation, we get 5(2.25)+3y = 21. Solving for y, we get $3.25 per pound of walnuts. If we plug in the numbers into the 2 equations, we will get the right total.

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How can you tell if a fraction is a perfect square?
zimovet [89]

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Step-by-step explanation:

So for example 5/25 is a perfect square but 2/5 wouldn't be a perfect square.

Tell me if this helped you

7 0
3 years ago
Miguel Cabrera had a batting average of 0.33 last season.Mike trout had a batting average of 0.326 during the same season. Who h
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