Answer:
Bank One is offering a simple interest rate of 6.25% per annum.
Step-by-step explanation:
Given that Bank One offers a certificate of deposit that pays $ 5,000 in four years for exchange for $ 4,000 today, to determine what interest rate is Bank One offering the following calculation must be performed:
(5000 - 4000) / 4 = X
1000/4 = X
250 = X
4000 = 100
250 = X
250 x 100/4000 = X
25000/4000 = X
6.25 = X
Therefore, Bank One is offering a simple interest rate of 6.25% per annum.
No idea what this is, sorry
3. Three and four tenths. 3+0.4=3.4
4. Two and fifty-one hundredths. 2+0.51=2.51
5. 8/10
6. 0.05
7. 46/100
8. 0.6
9. 9/10
10. 0.35
1 and 2 are correct btw
