I wish to have $10,000 at the end of 8 yers in a bank offering a simple interest rate of 7.5% per year. How much should I deposi
1 answer:
Answer:
You have to invest $6,250
Step-by-step explanation:
very simple applying the simple interest formula which is
Given data
A, final amount = $10,000
P, initial principal balance= ?
r, annual interest rate = 7.5%
t, time (in years)= 8 years
we can substitute our given data to find the principal needed.
Divide both sides by 1.6 we have
P= $6,250
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<h2>Given </h2>Two groups of students were asked how far they lived from their school.
The table shows the distances in miles:
Group A (distance in miles) 1 1.5 3.03 3.2 2.8 1.5 1.8 2.5 2.2
Group B (distance in miles) 2 2.5 3.23 1.3 1.8 2.4 3 1.5 1.8
<h3>What is mean?</h3>The mean of any data set or observation is equal to the sum of all the observations and divided by the number of observations.
The formula used to calculate the mean is;
The mean of group A is;
The mean of group B is;
Hence, the mean is equal for Group A and Group B.
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