Answer:
Interest earned= $200
Step-by-step explanation:
Giving the following information:
Initial investment= $20,000
Interest rate= 3%
Inflation rate= 2%
First, we need to calculate the real interest rate. <u>The inflation rate decreases the value of money through time. We need to deduct from the interest rate, the inflation rate.</u>
Real interest rate= 0.03 - 0.02= 0.01
<u>Now, we can calculate the interest earned in year 1:</u>
Interest earned= PV*(1+i)^n - PV
Interest earned= 20,000*(1.01^1) - 20,000
Interest earned= $200
Answer:
1/4
Step-by-step explanation:
Find the GCD (or HCF) of numerator and denominator GCD of 18 and 72 is 18
Divide both the numerator and denominator by the GCD 18 ÷ 18 / 72 ÷ 18
Reduced fraction: 1 / 4 Therefore, 18/72 simplified to lowest terms is 1/4.
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❖ 16 min : 28 min simplified to a fraction is 
16 and 28 can both be divided by 24:
16 ÷ 4 = 4
28 ÷ 4 = 7
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Answer:
Uh oh! It looks like your question is missing some crucial information. Please repost it with any helpful information such as diagrams, excerpts, or answer choices needed to solve it.
Step-by-step explanation:
3x + 2 is one possible choice