Answer:
the answer depends on which type of interest we use:
- simple interest rate = 24%
- compound interest rate = 26.82%
Step-by-step explanation:
the interest rate paid for holding the cards one month 1/50 or 2%.
to convert 2% monthly interest rate to a simple annual rate:
monthly rate x 12 months = 2% x 12 = 24%
now to convert 2% monthly interest rate to an annual rate (using compound interest):
- = (1 + r)ⁿ - 1
- = (1 + 0.02)¹² - 1 = 1.2682 - 1 = 0.2682 or 26.82%
in compound interest, earned interest earns even more interest by itself besides the interest earned by the principal.
Answer:
3x - 2 = 2x + 7
Step-by-step explanation:
Answer:
$51.
Step-by-step explanation:
Interest I = PRT/100 where P = amount of the loan , R = rate and T = the times in years.
I = 340 * 15 * 1 / 100
= 5100/100
= $51.
Answer:
Both air balloon and water balloon data are best modeled by an exponential function.
Step-by-step explanation:
Air balloon
Time (seconds) Volume (cubic centimeters)
0 95
3 69
6 50
9 37
12 27
The relation Volume variation/time is constant for lines, In this case, this value change from point to point, as can be seen next.
(69 - 95)/3 = -8.67
(50 - 69)/3 = -6.33
(37 - 50)/3 = -4.33
(27 - 37)/3 = -3.33
Water balloon
Time (seconds) Volume (cubic centimeters)
0 30
3 15.8
6 7.8
9 4
12 2
(30 - 15.8)/-3 = -4.73
(15.8 - 7.8)/-3 = -2.67
(7.8 - 4)/-3 = -1.27
(4 - 2)/-3 = -0.67
In this case, the relation Volume variation/time also change from point to point.
Then, both air balloon and water balloon data are best modeled by an exponential function.
