Answer:
the answer depends on which type of interest we use:
- simple interest rate = 24%
- compound interest rate = 26.82%
Step-by-step explanation:
the interest rate paid for holding the cards one month 1/50 or 2%.
to convert 2% monthly interest rate to a simple annual rate:
monthly rate x 12 months = 2% x 12 = 24%
now to convert 2% monthly interest rate to an annual rate (using compound interest):
- = (1 + r)ⁿ - 1
- = (1 + 0.02)¹² - 1 = 1.2682 - 1 = 0.2682 or 26.82%
in compound interest, earned interest earns even more interest by itself besides the interest earned by the principal.
Answer
Not sure is there supposed to be a pic?
Step-by-step explanation:
True, and it's called an isosceles right triangle :D
Ron walks 1/2 mile in 10 minutes. There are six 10 minute intervals in an hour 60 divided by 10 is 6. So, therefore he can walk 1 mile in 20 minutes, 1/3 of an hour and a total of 3 miles per hour.
3 x 20 = 60.
Stevie walks 1/4 of a mile in 6 minutes, so that's 12 minutes to walk 1/2 mile. 60/12=5
Stevie can walk 5 half miles which transfers to 2 1/2 miles per hour.
Answer:
Step-by-step explanation:
The given equation is:
To find the point where this line intersect the y-axis, we put x=0 into the given equation.
When x=0, we have 
.
This implies that; y=5.
The y-intercept is (0,5).
Comparing (0,5) to (0,b), we can conclude that; b=5
