Answer:
$2,543.84 is your answer.
Step-by-step explanation:
What you do first is you have to figure out the 5.99% interest rate.
150 x 5.99 = 8.99
150 + 8.99 = $158.99
Now multiply that by 16
158.99 x 16 = $2,543.84 is your answer.
C.) 5 is the value of X and the value of Y is 5/2
Based on the information given the real interest rate is 1.75%.
Using this formula
Real interest rate =Nominal interest rate − Inflation rate
Where:
Nominal interest rate=4.00%
Inflation rate=2.25%
Let plug in the formula
Real interest rate=4.00%-2.25%
Real interest rate=1.75%
Inconclusion the real interest rate is 1.75%.
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