Base on my calculations, the answer is not in the choices given. First, we have to acknowledge that the interest rate given is not the effective interest rate instead it is called the nominal interest rate therefore we have to convert it first to an effective interest rate. We use the following formula:
Effective Interest rate = [[1 + (r/m)]^m] - 1 where r is the nominal interest rate and m is the number of compounding times
For this case, m is equal to 2 since it is compounded semianually.
Effective Interest rate = [[1 + (.12/2)]^2] - 1 = .1236
We then use the calculated effective interest rate to the formula for the Compound Interest Rate Formula.
Future Value = Present Value (1 + Effective interest rate)^(no. of years)Future Value = 3000 (1 + .1236)^( 3) = 4255.56 dollars
Answer:
Option B is the correct answer
Step-by-step explanation:
Center of the circle lie on point (-1, - 3) = (h, k)
Answer:
a=-3/7 b=-2/8 c=-0.2
Step-by-step explanation:
Answer:
There are 110 children total in the sports club
Step-by-step explanation:
To get this answer, its actually easier than it seems. You might need a calculator however.
First you start with the 11 children who play both badminton and squash, then, you divide that by 0.25 (25%) to get 44.
Next you take 44 and divide it by 0.4 (40%) to get 110.
And there you go! If you want to make sure you got it right simply start with 110 and multiply it by 0.4 then multiply the number/decimal you get by 0.25. You should get 11 to confirm your answer :)
