Answer:
(a)His monthly Interest Rate=0.8%
(b)Annual Interest Rate = 9.6%
(c)
Step-by-step explanation:
For a Principal P invested at a yearly rate r, compounded m times in t years
Amount at Compound Interest=
Comparing with Jerry's equation y=388 (1.008)
(a)His monthly Interest Rate= 0.008=0.8%
(b)Annual Interest Rate= Monthly Interest Rate X 12 =0.8 X 12 = 9.6%
(c)If I invest $500 at the same rate of return,
Total Money after m months
=
Answer:
Unit price of strawberries at Grocery Mart is $ 1.495 or 150 pennies
Unit price of strawberries at Baldwin Hills Market is $ 1.33 or 133 pennies.
Step-by-step explanation:
1 dollar = 100 pennies
Given:
Cost of 2 pounds of strawberries at Grocery Mart = $ 2.99
Cost of 3 pounds of strawberries at Baldwin Hills Market = $3.99
∵ Cost of 2 pounds of strawberries at Grocery Mart = $ 2.99
∴ Cost of 1 pound of strawberries at Grocery Mart =
∵ Cost of 3 pounds of strawberries at Baldwin Hills Market = $3.99
Cost of 1 pound of strawberries at Baldwin Hills Market =
Therefore, the unit price of strawberries at each grocery store is the cost of 1 pound of strawberries. So, unit rate at Grocery Mart is 150 pennies and at Baldwin Hills Market is 133 pennies.