The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.
<h3>What is compound interest?</h3>
The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.
The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.
Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.
Using the formula A = P(1 + r/n)^nt
Solving for rate r as a decimal
r = n[(A/P)^(1/nt) - 1]
r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]
r = 0.1
Then convert r to R as a percentage
R = r × 100
R = 0.1 × 100
R = 10%/year
Learn more about compound interest
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Split it into three rectangles, find the area of each one and add them together. You can split it multiple ways but the way I did it, you would end up with this: 10*2+2*2+2*2
Answer:
see explanation
Step-by-step explanation:
the equation of a circle centred at the origin is
x² + y² = r² ( r is the radius )
(11)
- 81 + x² = - y² ( add y² to both sides )
- 81 + x² + y² = 0 ( add 81 to both sides )
x² + y² = 81 ← in standard form
with centre = (0, 0 ) and r = 
= 9
(12)
y² + x² - 196 = 0 ( add 196 to both sides )
x² + y² = 196 ← in standard form
with centre = (0, 0 ) and r = 
= 14
Answer:
Explanation:
You can subtract the second equation from the first equation to eliminate y:
7x + y = 25 – 6x + y = 23: 7x – 6x = x; y – y = 0; 25 – 23 = 2
x = 2
You could also solve one equation for y and substitute that value in for y in the other equation:
6x + y = 23 → y = 23 – 6x.
7x + y = 25 → 7x + (23 – 6x) = 25 → x + 23 = 25 → x = 2
Step-by-step explanation:
Answer:
70
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20
Step-by-step explanation:
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