The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.
<h3>What is compound interest?</h3>
The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.
The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.
Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.
Using the formula A = P(1 + r/n)^nt
Solving for rate r as a decimal
r = n[(A/P)^(1/nt) - 1]
r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]
r = 0.1
Then convert r to R as a percentage
R = r × 100
R = 0.1 × 100
R = 10%/year
Learn more about compound interest
brainly.com/question/12325365
#SPJ9
Answer:
Line that passes through the points (-6,5) and (-2,7) is,
y=x/2+8, slope is 1/2
line that passes through the points (4,2) and (6,6) is,
y=2x-6, slope is 2
so, there is no relationship between those two lines,
intersection point is (28/3,38/3)
<u>Given</u>:
Given that the circle with center O.
The radius of the circle is OB.
The chord of the circle O is PQ and the length of PQ is 12 cm.
We need to determine the length of the segment PA.
<u>Length of the segment PA:</u>
We know that, "if a radius is perpendicular to the chord, then it bisects the chord and its arc".
Thus, we have;
Substituting the value PQ = 12, we get;
Thus, the length of the segment PA is 6 cm.
Hence, Option d is the correct answer.
Answer: v=-81.92
Step-by-step explanation:
Multiply both parts of the equation by 8:
