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
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The actual answer is "always", as adjacent angles have no common interior points under any circumstances. The correct option among all the options that are given in the question is the first option or option "A". I hope that this is the answer that you were looking for and it has come to your help.
Answer:
A
Step-by-step explanation:
just plug in the formula
9514 1404 393
Answer:
- 125 in²
- 676 km²
- 20 square units
Step-by-step explanation:
The Pythagorean theorem tells you the square on the hypotenuse is equal to the sum of the squares on the other two sides. (This is the version you use for problem 2.)
This also means the square on one side is the difference between the square on the hypotenuse and the square on the other side. (Use this version for problems 1 and 3.)
1. ? = 200 in² -75 in² = 125 in²
2. ? = 576 km² + 100 km² = 676 km²
3. ? = 36 square units - 16 square units = 20 square units
