We solve the question as follows:
Simple interest=Principle×Rate×Time
Thus given:
p=$55000, R=2.5%, time= 1 year
thus
Interest=55000×0.025×1=$1375
To evaluate the amount required to keep up with the inflation, your interest rate should match the inflation rate otherwise prices are going up faster than the savings.
Required interest rate=55000×0.034×1=$1870
The buying power lost will be the difference between your required interest and actual interest.
Thus:
Buying power lost=1870-1375=$495
Answer:
16.5?
Step-by-step explanation:
It's halfway between 16 and 17?
Answer:
8:3
16:6
Step-by-step explanation:
First, let's check if 9 and 24 have any common factor. If they do have any common ones, we must find the GCF (greatest common factor).
Factors of 9: 1, 3, 9
Factors of 24: 1, 2, 3, 4, 6, 8, 12, 24
The common factors both of the numbers share and 1 and 3. To find the GCF, simply compare one of the factors to the other.
1 < 3
Now that we know the GCF, we can divide the two numbers in the ratio 24 : 9 by it (3).
24:9
24/3:9/3
<u>8:3</u>
Now that our ratio is simplified, it's going to be much easier to find more ratios that are equivalent. <u>8:3</u> is already one equivalent ratio, but if we multiply each number in the ratio by any other number, we can get a new equivalent ratio. Let's multiply each number in the ratio by 2:
<u>8:3</u>
8 ⋅ 2:3 ⋅ 2
<u>16:6</u>
<u></u>
So, another equivalent ratio to 24:9 (and <u>8:3</u>) is <u>16:6</u>.
Well it would be 39 because 39 ÷ 39 would be 1, and you should be able to divide 250 by 39 too! Hope that helped!
