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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Check the picture below.
so if x = 4, then 2x? surely you know that.
Surface Area of a Sphere = 4π(d/2)²
Let the smaller sphere's diameter be just a sample of 4 units in diameter and let the large spheres diameter be 4 times that of the smaller sphere.
Small Sphere: 4π(4/2)² = 16π units²
Large Sphere: 4π(16/2)² = 256π units²
256π / 16π = 16 times
The large sphere has a surface area 16 times that of the smaller one.
Answer:
angle 2, 4, 6 are 34 degrees
angle 7, 5, 1, 3 are 146 degrees
180-34= 146
Answer:
1005
Step-by-step explanation:
10 to the third power + 5 =
1000 + 5 =
1005
Hope that helps!
