Ms. Skeen bought 3 pounds of candy for the Christmas party. There was a total of 147 pieces of candy. She wants to divide it amo
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Answer:
The effective interest rate, rounded to the nearest tenth, is 0.1%.
Step-by-step explanation:
The banker's rule is the simple interest formula.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly) and t is the time, in years.
The effective interest rate is given by the following formula:
.
In this problem, we have that:
A man makes a simple discount note for $6,200, at an ordinary bank discount rate of 8.84%, for 40 days. We consider that the year has 360 days. This means that .
So
The effective interest rate is
The effective interest rate, rounded to the nearest tenth, is 0.1%.
Answer:
Future requirement of water = 115,517 mega-liters
Step-by-step explanation:
Given:
Current requirement of water (C) = 48,000 mega-liters
Increasing rate per year (g) = 5% = 0.05
Number of year (n) = 18 years
Find:
Future requirement of water = ?
Computation:
Future requirement of water = 115,517 (Approx) mega-liters