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svet-max [94.6K]

3 years ago

8

On February 28, Katherine wrote a check number 1021 to Hoopers Market for $189.43. Her beginning balance was $584.77. Calculate

the new balance.

1 answer:

8_murik_8 [283]3 years ago

3 0

Answer:

Her new balance is $395.34

Explanation:

You take the starting balance of $584.77 and subtract it by the amount spent which was $189.43. Which gives you $395.34

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Answer:

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Explanation:

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Here,

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Using the values in this formula, we get:

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$r=(\frac{1+0.03}{1+0.588} )-1\\\\ r=-0.027\\\\ r=-2.7\%$

Thus, the Real Interest Rate that Juanita earned is -2.7%. This shows that rate of Inflation is more than the Nominal Interest and the value of her savings actually decreased compared to the beginning of the year.

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