Answer:
No, equivalent quarterly rate will be approx 1.75%
Step-by-step explanation:
Given that Chan deposited money into his retirement account that is compounded annually at an interest rate of 7%.
We know that there are 4 quarters in 1 year.
So to find that equivalent quarterly we will divide given yearly rate by number of quarters.
That means divide 7% by 4.
which gives 1.75%.
But that is different than Chan's though of 2% quarterly interest.
Hence Chan is wrong.
Answer:
40 minutes
Step-by-step explanation:
12 envelopes every 10 minutes.
48 envelopes = 40 minutes
The slope is 1/3 because in order to get from point (3,1) to (6,2) you need to rise 1 and go over 3
There are a number of possible combinations for this open-ended question, so here's an example question and answer, in which the two are non-related:
James' car is going at 45 miles per hour, and that is 42% of his maximum speed. How much slower does James have to go to be 27% of his maximum speed?
Amy's car used to be able to go at 45 miles per hour as 42% of her maximum speed, but due to the new upgrade, 45 miles per hour is now only 27% of her maximum speed.
