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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4-2(1)=
4-2=2
So basically the answer is 2
20% is 1/5 more so it is 1 1/5 times the size of the smaller one. 1 1/5 is 1.2 as a decimal (also 120% divided by 100).
Let's take the smaller bottle to be y.
x=1.2y
x=1.2*5.4=6.48 ounces.
Answer:
C
Step-by-step explanation:
There is a common ratio between consecutive term in the sequence, that is
÷ 
= 3 ÷ = 30 ÷ 3 = 300 ÷ 30 = 10
This indicates the sequence is geometric with n th term
= a
where a is the first term and r the common ratio
Here a = and r = 10 , thus
= 
= 
× 
= 3 × 
×
= 3 × 
Thus
= 3
→ C
Answer:
1,320 seconds or 22 minutes to walk 1 mile
Step-by-step explanation:
5280 feet (1 mile) ÷ 4 feet per second = 1,320 seconds or 22 minutes
