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galben [10]
3 years ago
14

Complete the statement about the compound interest expression.

Business
1 answer:
Misha Larkins [42]3 years ago
5 0

Answer:

The answer is "A"

Explanation:

Cumulative interests are counted by one plus the annual interest rate adjusted to the cumulative periods of less than one. The first principal sum is determined by one. The cumulative sum of the initial loan is then deducted from the calculation.

Formula:

A= \ p (1+ \frac{r}{n})^{nt} \\\\\ Where,\\ \\ A =  \ annual \ interest\\P = \ principal\\t= time\\r= rate

That's why we apply the above formula to calculate the annual interest rate.

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A student has a savings account earning 9% simple interest. She must pay $1400 for first-semester tuition by September 1 and $14
IRINA_888 [86]

Answer: The answer is $2,759.22

Explanation: From the question above, we have:

September 1st to January 1st is 4 months, this is 1/3 of a year which means that the student will earn:

=> 9/3 = 3%

3% interest for the money that is saved is the savings account. So the student must put in at least:

x + 3%x = 1400

x + 0.03x = 1400

1.03x = 1400

x = 1400 / 1.03

x = 1,359.22

Therefore, if the student saves $1,359.22 in the savings account By September 1st, she will have $1400 by January 1st.

Also, the student needs to make $1400 for the first semester. So overall she will need to make:

1,400 + 1,359.22 = $2,759.22 during the summer in order to ensure that she will have enough money to pay for both semesters.

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Which activities are often required of someone who is in the performing arts?
Delicious77 [7]
<span>Which activities are often required of someone who is in the performing arts?

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3 years ago
If the price elasticity of demand coefficient is 4, then:a. a price increase of 1% will reduce quantity demanded by 1/4%b. A pri
andrew11 [14]

Answer:

A price increase of 1% will reduce quantity demanded by 4%

Explanation:

If the price elasticity is 4 then, this demand is highly responsive to changes in price.

So it will decrease by more than the price increase.

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↓QD / ΔP   = price-elasticity

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Quantity demanded will decrease by 4%

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