The effective rate of interest will be 9.10 %.
<h3>What is compound interest?</h3>
Compound interest is applicable when there will be a change in principle amount after the given time period.
Let's say you have given 100 for two years with a 10% rate of interest annually than for the second-year principle amount will become 110 instant of 100.
Given for simple interest
Principle amount = $650
Rate of interest = 12%
Time period = 7 months.
Interest= PRT/100
Interest= 650× 12 × 7/100 = 546
So final amount = 650 + 546 = $1196
By compound interest
1196 = 650![[1 + R/100]^{7}](https://tex.z-dn.net/?f=%5B1%20%2B%20R%2F100%5D%5E%7B7%7D)
R = 9.10%
Hence the effective rate of interest will be 9.10%.
For more information about compound interest,
brainly.com/question/26457073
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The answer for your question is 12.
Answer:
A. 4.4 I am doing good today
Answer:
5 /36
Step-by-step explanation:
Sample space :
Number of faces^number of dice = 6^2 = 36
Sum of 8 on a roll of 2 dies :
Probability = required outcome / Total possible outcomes
Required outcome = number of times a sum of 8 is obtained on a roll of 2 dies = 5
Total possible outcomes = sample space = 36
P(obtaining a sum of 8) = 5 /36