Answer: $1114.91
Step-by-step explanation:
The formula for compound interest is
Where
A = final amount
P = initial principal balance (1030 for this)
r = interest rate (0.04 for this)
n = number of times interest applied per time period (2 for this)
t = number of time periods elapsed (2 for this)
This rounds up to $1114.91
In a survey over whom prefers orange juice and whom prefers milk, 7 kids said they liked orange juice, and 5 chose milk.
Hope this helped :)
A general equation to use for this situation is y = mx + b.
For this question, we can assume that y is total cost, m is cost per balloon, x is the amount of balloons, and b as the service fee; so we can set the equation up:
y = (4.50)x + 12
And we can further plug in the total cost to find the number of balloons purchased for the party:
79.50 = (4.50)x + 12
Now we can solve for x (number of balloons):
67.50 = (4.50)x
x = 15
The total number of balloons purchased for the party is 15.
Answer:
interest rate = 2.9%
Step-by-step explanation:
the principal is $25,000, the interest is $10,875
Number of years = 15
We use simple interest formula
I = P*r*t
Where I is the interest amount=10,875
P is the principal amount= 25000
r is the interest rate = r
t is the number of years = 15
Plug in all the value in the formula
I = P*r*t
10875 = 25000 * r * 15
10875 = 375000 * r
Divide both sides by 375000
r=0.029
We always write rate of interest in percentage so we multiply by 100
0.029 * 100= 2.9%
So interest rate = 2.9%
