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UNO [17]
3 years ago
14

Your friend tells you that if you let him keep 50 of your Pokemon cards for a month, he will give you 1 card extra when he retur

ns your cards. What is the annual rate of interest he is willing to pay for the borrowed cards? Note: Even though he only keeps your cards for a month, we can still calculate an annual interest rate
Mathematics
1 answer:
oksano4ka [1.4K]3 years ago
3 0

Answer:

the answer depends on which type of interest we use:

  • simple interest rate = 24%
  • compound interest rate = 26.82%

Step-by-step explanation:

the interest rate paid for holding the cards one month 1/50 or 2%.

to convert 2% monthly interest rate to a simple annual rate:

monthly rate x 12 months = 2% x 12 = 24%

now to convert 2% monthly interest rate to an annual rate (using compound interest):

  • = (1 + r)ⁿ - 1
  • = (1 + 0.02)¹² - 1 = 1.2682 - 1 = 0.2682 or 26.82%

in compound interest, earned interest earns even more interest by itself besides the interest earned by the principal.

You might be interested in
In a cafeteria, 1/6 of the students are eating salads, and 2/3 are eating sandwiches. There are 18 students in the cafeteria. Ho
inna [77]

Answer:

3 students are eating lunches other than salads and sandwiches.

Step-by-step explanation:

To solve this you know that there are 18 students in the cafeteria and 1/6 of them are eating salads and 2/3 are eating sandwiches right? So you would have to think about what 1/6 of 18 is so you know how many students are eating salads, and 1/6 of 18 is 3 so there are 3 students eating salads. Now, you have to find out how many students are eating sandwiches, so you need to know what 2/3 of 18 is. 2/3 of 18 is 12 so now you also know that there are 12 students eating sandwiches. Next, you have to add 12 and 3 and you get 15. Since you know that there are 18 students in the cafeteria, you have to subtract 18 by 15, and you should get 3. So 3 students are eating lunches other than salads or sandwiches.

Hope this helps you! :D

7 0
3 years ago
What is the missing length???
Kaylis [27]

Answer:

25

Step-by-step explanation:

144/60 = 2.4

60/2.4 = x

x = 25

8 0
3 years ago
How do you tell a triangle is not a right triangle
garri49 [273]
You can tell when you cant draw an even L shaped figure at the intersects of the bottom and the side. 90 degrees. But there are many different ways that may make more sense. Happy to help:)
7 0
3 years ago
Read 2 more answers
On July 9, Mifflin Company receives a $10,200, 90-day, 6% note from customer Payton Summers as payment on account. What entry sh
Ludmilka [50]

Answer:

Since on July 9, Mifflin Company receives a $ 10,200, 90-day, 6% note from customer Payton Summers as payment on account, to determine what entry should be made on July 9 to record receipt of the note the following calculation must be performed :

90 days = 3 months

6/12 x 3 = 1.5%

10,200 x 1,015 = 10,353

Therefore, a debt cancellation for $ 10,200 must be made in the company's accounting records, plus an interest generation for $ 153, which will be justified by the cash income of $ 10,353.

4 0
3 years ago
Find all solutions for a triangle with c=70 c=24 and a=25
Slav-nsk [51]

Answer:

see the attachments for the two solutions

Step-by-step explanation:

When the given angle is opposite the shorter of the given sides, there will generally be two solutions. The exception is the case where the triangle is a right triangle (the ratio of the given sides is equal to the sine of the given angle). If the given angle is opposite the longer of the given sides, there is only one solution.

When a side and its opposite angle are given, as here, the law of sines can be used to solve the triangle(s). When the given angle is included between two given sides, the law of cosines can be used to solve the (one) triangle.

___

Here, the law of sines can be used to solve the triangle:

A = arcsin(a/c·sin(C)) = arcsin(25/24·sin(70°)) = 78.19° or 101.81°

B = 180° -70° -A = 31.81° or 8.19°

b = 24·sin(B)/sin(70°) = 13.46 or 3.64

5 0
3 years ago
Read 2 more answers
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