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2 years ago

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PLEASE HELP I NEED THIS DONE Chan deposited money into his retirement account that is compounded annually at an interest rate of

7%. Chan thought the equivalent quarterly interest rate would be 2%. Is Chan correct? If he is, explain why. If he is not correct, state what the equivalent quarterly interest rate is and show how you got your answer.

1 answer:

rjkz [21]2 years ago

8 0

Answer:

No, equivalent quarterly rate will be approx 1.75%

Step-by-step explanation:

Given that Chan deposited money into his retirement account that is compounded annually at an interest rate of 7%.

We know that there are 4 quarters in 1 year.

So to find that equivalent quarterly we will divide given yearly rate by number of quarters.

That means divide 7% by 4.

which gives 1.75%.

But that is different than Chan's though of 2% quarterly interest.

Hence Chan is wrong.

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Consider the graph of the line y = x – 4 and the point (−4, 2).

Hitman42 [59]

Answer:

a. The slope of a line parallel to the given line is 1

b. A point on the line parallel to the given line, passing through (−4, 2), is (1,7)

c. The slope of the line perpendicular to the given line is -1

d. A point on the line perpendicular to the given line, passing through (−4, 2), is (3,-5)

Step-by-step explanation:

The equation of the line in Slope-intercept form is:

$y=mx+b$

Where m is the slope and b is the y-intercept.

a. For the line $y = x - 4$

You can identify that:

$m=1$

By definition, two lines are parallel if they have the same slope. Then, the slope of a line parallel to the given line is:

$m=1$

b. The equation of the line in Point-slope form is:

$y -y_1 = m(x - x_1)$

Where m is the slope and ( $x_1,y_1$ ) is a point of the line.

Given the point (-4,2), substitute this point and the slope of the line into the equation:

$y -2 = (x +4)$

Give a value to "x", substitute it into this equation and solve for "y":

For $x=1$ :

$y -2 = (1 +4)$

$y= 5+2$

$y= 7$

Then, you get the point (1,7)

c. The slopes of perpendicular lines are negative reciprocals, then the slope of a line perpendicular to the given line is:

$m=-\frac{1}{1}\\\\m=-1$

d. Given the point (-4,2), substitute this point and the slope of the line into the equation:

$y -2 = -1(x +4)$

$y -2 = -(x +4)$

Give a value to "x", substitute it into this equation and solve for "y":

For $x=3$ :

$y -2 = -(3 +4)$

$y= -7+2$

$y= -5$

Then, you get the point (3,-5)

8 0

3 years ago

Which situation represented by 25/9 ?

faltersainse [42]

Answer:

the answer is 2.7777

Step-by-step explanation:

You just divide!

8 0

2 years ago

How many solutions are<br> there to this system of<br> equations?<br> y = 2x - 1<br> y = 2x + 1

Pavlova-9 [17]

Answer:

They are 5 I think

Step-by-step explanation:

It should be correct

3 0

2 years ago

What's the value of 2. X/10=2

myrzilka [38]

Answer:

x = 20

Step-by-step explanation:

x/10 = 2 multiply both sides of the equation by ten ↓

10x x/10 = 10 x 2 reduce the numbers with the greatest common factor 10 ↓

x = 10 x 2 multiply the numbers ↓

x = 20

4 0

2 years ago

At what rate per annum does the compound interest of Rs 576 becomes to Rs 153 in 2 years

ArbitrLikvidat [17]

Answer:

The value of rate per annum is R = 12.5 %

Step-by-step explanation:

Principal amount = 576

Interest = 153

Amount after 2 years = 576 + 153 = 729

We know that

$A = P [1 + \frac{R}{100} ] ^{T}$

Put all the values in above equation

$729 = 576 [1 + \frac{R}{100} ]^{2}$

$\frac{27}{24} = 1 + \frac{R}{100}$

R = 12.5 %

This is the value of rate per annum.

4 0

3 years ago