Answer:
The nominal annual interest rate is 15%.
The effective interest rate is 16.08%.
Step-by-step explanation:
$9,375 = $325 (P/A, i%, 36)(P/A, i%, 36)
= $9,375/$325= 28.846
From compound interest tables, i = 1.25%
Nominal Interest Rate= 1.25 x 12= 15%
Effective rate = (1+ (0.15/36))^36-1=1.004^36-1= 16.08%
Answer:
FV= $4,725.74
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $2,000
Number of periods (n)= 15 years
Interest rate (i)= 5.9% = 0.059
<u>To calculate the Future Value, we need to use the following formula:</u>
<u></u>
FV= PV*(1 + i)^n
FV= 2,000*(1.059^15)
FV= $4,725.74
Answer:
<em>Answer: 1/4</em>
Step-by-step explanation:
<u>Algebraic Operations</u>
The width of a rectangle is given as W=5x+3 and the length of the rectangle is given as L=20x+12.
It's required to determine the ratio of the width to the length, that is:
This fraction can be simplified if we factor the expression in the denominator. The LCF of 20x and 12 is 4, thus:
Now note we have the exact same expression up and down, thus simplifying:
Answer: 1/4
Well, you have to do it with the substitution method now it's not easy, it takes some time to get used to it. I'm not really sure how to explain it but if you go on Khan Academy it will show you how to do it.
<h3>
Answer: 9t+8(101-t)</h3>
Work Shown:
t = number of hours tutoring
101-t = number of hours working as a waiter
The expressions t and 101-t add to 101.
9t = amount earned as a tutor, at $9 an hour
8(101-t) = amount earned as a waiter, at $8 an hour
9t+8(101-t) = total amount earned from both jobs
This does not account for taxes or other fees. Optionally, you can distribute the 8 through the (101-t) terms, then combine like terms to simplify.
