A loan of $50,000 is taken out for six years at 9% interest compounded annually. If the loan is paid off in full at the end of that time period, $50433 must be returned.
<h3>What is Compound interest?</h3>
- Compound interest is calculated by multiplying the initial loan amount, or principal, by one plus the annual interest rate multiplied by the number of compound periods multiplied by one.
- Compound interest is when you earn interest on both your savings and your interest earnings. When you compound interest, you add the interest you've earned back into your principal balance, which earns you even more interest, compounding your returns.
- Assume you have $1,000 in a savings account earning 5% interest per year. You'd earn $50 in year one, giving you a new balance of $1,050. Compound interest occurs when interest earned on savings begins to earn interest on itself.
To learn more about Compound interest, refer to:
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Remember that the difference between census and a sample survey is that in a census you take all the people of population in consideration in the study, and in the sample survey you take a part of that population in consideration to survey.
SO here if you check the problem it says that "in a recent poll, Pew reserchers found that 47% OF AMERICAN ADULT RESPONDENTS"
that is the population of the study that you want to focus, but there are a billion of american adult in US right? so its impossible that this company Pow Research made a census if you consider that a billion of people in US is almost infinite number for a company with a finite number of employees.
Also remember that a company has a budget to consider every month or every year, so to make a census or a sample survey it takes time and money, just to survey 10 people in a streeth of US cost money so if you want to reduce cost you might need to do a sample survey instead of a census.
5 = what percent of 23
5 = x% of 23
5 = (x/100)*23
5 = 23x/100
5*100 = 23x
23x = 5*100
x = 5*100/23
x = 21.739
5 is ≈ 21.739% of 23
Answer:
$25.08
Step-by-step explanation:
$48 to which you apply the 50%
48/2= $24
then you add the sales tax:
24+4.5%= 25.08
C because i just took de test
