The representation of 28% is equal to 8/25?

Terrence opens a savings account with a deposit of $1000. After 1 year he receives $50 in interest. What is the annual interest

geniusboy [140]

Answer:

Step-by-step explanation:

So, I'm pretty sure this is a problem about compound interest.

The formula for compound interest is A = p(1 + r/n)^nt

For this problem, $1000 is p, the initial amount; A is the total amount, or $1050.

What the problem is asking for is r, the interest rate, which is divided by n. N is the number of times the interest rate is compounded per year; Since the question is asking for the annual interest rate, N would be equal to 1. And because Terrence is has only left his money in for a year, t would also be equal to one.

So, by filling in the formula some, we get this:

$1050 = $1000(1 + r/1)^1*1

To find r, we would need to isolate it in the problem.

1. First, distribute $1000 to the parenthesis(keep in mind that 1000, is also equal to 1000/1:

1050 = (1000 + 1000r/1)^1

2. Then subtract 1000 from both sides:

50 = (1000r/1)^1

3. Multiple both sides by one:

50 = (1000r)^1

4. Divide both sides by 1000:

.05 = r^1 or .05 = r.

The answer is A, 5%.

8 0

4 years ago

If x = 3, calculate the value of: x3 - x

Sergeeva-Olga [200]

You have to fill in 3 for x so it woul look like 3x3-3 and that would be 6.

8 0

3 years ago

Read 2 more answers

Which expression is equivalent to the following complex fraction?

Virty [35]

Answer:

$\dfrac{-4x+7}{2(x-2)}$

Step-by-step explanation:

Write the terms of numerator and denominator using a common denominator.

$\dfrac{\dfrac{3}{x-1}-4}{2-\dfrac{2}{x-1}}=\dfrac{\left(\dfrac{3-4(x-1)}{x-1}\right)}{\left(\dfrac{2(x-1)-2}{x-1}\right)}}=\boxed{\dfrac{-4x+7}{2(x-2)}}$