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malfutka [58]
2 years ago
9

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.
Mathematics
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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7 0
3 years ago
Apr 17, 1:48:02 AM
galben [10]

Answer:

y = 9.54

and, x = 0.08

Step-by-step explanation:

Given that

x - 2y = -19 .......................(1)

3x + 5y = 48 ...............(2)

Based on the above information

Multiply by 3 in equation 1

So,

3x - 6y = -57

3x + 5y = 48

-     -        -

-11y = -105

y = 9.54

So, the x would be

x - 2(9.54) = -19

x - 19.08 = -19

x = -19 + 19.08

x = 0.08

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2 years ago
Can you explain this for me 7-9÷3+6×6×2-4÷2​
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The Answer Is 74. Your Welcome

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3 years ago
Which of the following equations defines a line that is parallel to the line y=-4/3x-4 and passes through the point (3,-1)
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Answer:

d

Step-by-step explanation:

given that your slop is -4/3, plug the (x,y) point in to the equation of y = -4x/3 +b

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y = -4x/3 + 3

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Step-by-step explanation:

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