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ELEN [110]
2 years ago
11

The total value of an investment was $305.33 after $240 was invested for 10 years compounded monthly. Find the interest interest

rate.
Mathematics
1 answer:
Westkost [7]2 years ago
3 0

Answer:

Interest rate = 2.41%

Step-by-step explanation:

The total value of an investment was $305.33 after $240 was invested for 10 years compounded monthly. Find the interest rate.

The formula to calculate the Interest rate for a Compound Interest is given as:

Solving for rate r as a decimal

r = n[(A/P)^1/nt - 1]

r = 12 × [(305.33/240.00)^1/(12)(10) - 1]

r = 0.0240996

Then convert r to R as a percentage

R = r * 100

R = 0.0240996 * 100

R = 2.41%/year

Therefore, the Interest rate = 2.41%

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How do I find the answers to 17, 19, and 20?
Irina18 [472]

Answer:

17. 6

18. 18 (as shown)

19. 10/3 = 3 1/3

20. 20/3 = 6 2/3

Step-by-step explanation:

17. For this, you can subtract the given length GB=12 from the length you found for problem 18, BF=18. Doing that tells you FG = 18-12 = 6, as you have marked on the diagram.

19. As with median BF, the point G divides it into two parts that have the ratio 1:2. The distance from G to D is the shorter of the distances, so you have ...

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20. You can subtract GD from CD to get CG, or you can multiply CD by 2/3. The result is the same either way.

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_____

<em>Comment on centroid and median</em>

The centroid (G) divides each median into parts in the ratio 1:2. Hence the shorter of those parts is half the length of the longer one, or 1/3 the total length of the median.

The longer of the parts is double the length of the shorter one, or 2/3 the total length of the median.

Your marking of median BF seems to show an understanding of these relationships. (Total length: 18; length of parts: 6 and 12.)

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yKpoI14uk [10]

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