Two sets of data are graphed on the dot plot. What observation can you make about the two data sets? The figure shows a number l
1 answer:
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Answer:
Step-by-step explanation:
We know that for principal amount P , time period T and rate of interest , simple interest is given by
.
Here ,
To find : simple interest rate i.e.,
On putting values of in formula , we get
Now we need to round off the answer to the nearest tenth .
So, simple interest rate is % = =
Answer:
$268.78
Step-by-step explanation:
We will use the compound interest formula to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
First, change 3% into its decimal form:
3% -> -> 0.03
Now, plug in the values:
After 10 years, you will have $268.78