Answer:
k=62
Step-by-step explanation:
K divided by 5 = 12.4
Multiply both sides by 5
5k/5=12.4×5
Simplify;
k=62
Hope this helped!!
Answer:
54.72 months
Step-by-step explanation:
Given:
Future value = R35,000
Annuity = R500
Interest = 11.32% per year
Interest per month, r = 
= 0.943% = 0.00943
Let 'n' be the total time in months taken
Now,
Future value of annuity is calculated using the formula as:
![\textup{Future value}=\textup{Annuity}\times[\frac{(1+r)^n-1}{r}]](https://tex.z-dn.net/?f=%5Ctextup%7BFuture%20value%7D%3D%5Ctextup%7BAnnuity%7D%5Ctimes%5B%5Cfrac%7B%281%2Br%29%5En-1%7D%7Br%7D%5D)
on substituting the respective values, we get
![35000=500\times[\frac{(1+0.00943)^n-1}{0.00943}]](https://tex.z-dn.net/?f=35000%3D500%5Ctimes%5B%5Cfrac%7B%281%2B0.00943%29%5En-1%7D%7B0.00943%7D%5D)
or
![70=[\frac{(1.00943)^n-1}{0.00943}]](https://tex.z-dn.net/?f=70%3D%5B%5Cfrac%7B%281.00943%29%5En-1%7D%7B0.00943%7D%5D)
or
1.6601 = 1.00943ⁿ
taking log both sides, we get
log(1.6601) = n × log(1.00943)
or
0.22= n × 0.00402
or
n = 54.72 months
Answer:
Compound interest
Step-by-step explanation:
The question requires us to determine if the interest earned is a simple or compound interest
Simple interest = amount deposited x time x interest rate
Future value with compounding = A( 1 + r)^n
A = amount deposited
r = interest rate
n = time
We would calculate the simple interest and the future value in year 2
Simple interest in year 2 = $3500 x 0.0375 x 2 = 262.50
Future value in 2 years with a simple interest = 262.50 + 3500 = $3762.50
Future value in year 2 with compounding = 3500 x (1.0375)^2 = $3767.42
The value provided in year 2 with compounding matches that provided in the question. Thus, it is compounding of interest that is done
Answer:
21
Step-by-step explanation:
49 - 4 x 49 / 7 =
49 - 196 / 7 =
49 - 28 =
21
<em>Hope that helps!</em>
