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tensa zangetsu [6.8K]
3 years ago
5

#18-4: Douglas invests $550 in high-yield savings account. The account pays 2.1% simple interest annually. If he doesn't add or

subtract any money, is it reasonable to expect that Douglas will earn about $100 in simple interest in 4 years?
Mathematics
1 answer:
kap26 [50]3 years ago
3 0

Answer:

No

Step-by-step explanation:

You want to calculate the interest on $550 at 2.1% interest per year after 4 years.

The formula we'll use for this is the simple interest formula, or:

I = P x r x t

P is the principal amount, $550.00.

r is the interest rate, 2.1% per year, or in decimal form, 2.1/100=0.021.

t is the time involved, 4 years.

So, t is 4 year time periods.

To find the simple interest, we multiply 550 × 0.021 × 4 to get that:

The interest is: $46.20

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we are given

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now, we can plug these values

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now, we can simplify it

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now, we can solve integral

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5 0
2 years ago
The International Average Salary Income Database provides a comparison of average salaries for various professions. The data are
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Solution :

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Kuwait                    $\frac{1500-2697}{808.20} = -1.48$

From above it is clear that an account from China getting  z score of 53.83 will ne more pleased than other countries because the salary of $1,500 in one month for this particular country corresponds to the highest z score.

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3 years ago
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Crazy boy [7]

Answer:

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Step-by-step explanation:

Given that a bank loaned out $ 12,000, part of it at the rate of 9% per year and the rest at 19% per year, if the interest received in one year totaled $ 1,500, to determine how much was loaned at 9% the following calculation must be performed:

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