The effective rate is calculated in the following way:

where r is the effective annual rate, i the interest rate, and n the number of compounding periods per year (for example, 12 for monthly compounding).
our compounding period is 2 since the bank pays us semiannually(two times per year) and our interest rate is 8%
so lets plug in numbers:
Answer:
Step-by-step explanation:
<h3>Given</h3>
<h3>Find</h3>
- Solve for x
- Find x when p = -5
<h3>Solution</h3>
- 4(px + 1) = 64
- 4(px + 1)/4 = 64/4
- px + 1 = 16
- px = 15
- x = 15/p
<u>When p = -5, substitute p:</u>
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Answer: 15 !
Step-by-step explanation:
14 17/21 can be re-written as 14.8095
Which rounds to 15.
Hope this helped! :)
Answer:
1 x 60, 2 x 30, 3 x 20, 4 x 15, 5 x 12, 6 x 10, 10 x 6, 12 x 5, 15 x 4, 20 x 3, 30 x 2, 60 x 1 = 60
Step-by-step explanation: