Find the value of 48 - 32 = 4.2. 8
1 answer:
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Answer:
(a)His monthly Interest Rate=0.8%
(b)Annual Interest Rate = 9.6%
(c)
Step-by-step explanation:
For a Principal P invested at a yearly rate r, compounded m times in t years
Amount at Compound Interest=
Comparing with Jerry's equation y=388 (1.008)
(a)His monthly Interest Rate= 0.008=0.8%
(b)Annual Interest Rate= Monthly Interest Rate X 12 =0.8 X 12 = 9.6%
(c)If I invest $500 at the same rate of return,
Total Money after m months
=
In mathematics there is a rule of exponents where we can "distribute" the powers/exponents in the numerator and denominator of any expression. Therefore, given an expression as , the exponent n can be "distributed" as:
.
In our case, the power, n=11; a=7 and b=4. Thus, the expression , can be written as
.
Thus, out of the given options, option A is the correct option.