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3 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]3 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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aliina [53]

Answer:

$C = (30,500)$

Step-by-step explanation:

Given

$Area = 1800ft^2$

$A = (6,0)$

$B = (0,25)$

$C(x,y) = (30,y)$

Required

Determine the coordinates of C

The area of triangle is calculated as thus:

$Area = \frac{|A_x(B_y - C_y) + B_x(C_y - A_y) + C_x(A_y - B_y)|}{2}$

This gives:

$1800= \frac{|6(25 - y) + 0(y - 0) + 30(0 - 25)|}{2}$

$1800= \frac{|6(25 - y) + 30(0- 25)|}{2}$

$1800= \frac{|6(25 - y) + 30(-25)|}{2}$

$1800= \frac{|150 - 6y -750 |}{2}$

$1800= \frac{|150 -750- 6y |}{2}$

$1800= \frac{|-600- 6y |}{2}$

Multiply through by 2

$2 * 1800= |-600- 6y|$

$3600= |-600- 6y|$

$3600= |-(600+ 6y)|$

$3600= 600+ 6y$

Solve for 6y

$6y = 3600 - 600$

$6y = 3000$

Solve for y

$y = 3000/6$

$y = 500$

Hence:

The point is:

$C = (30,500)$

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