The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.
<h3>What is compound interest?</h3>
The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.
The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.
Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.
Using the formula A = P(1 + r/n)^nt
Solving for rate r as a decimal
r = n[(A/P)^(1/nt) - 1]
r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]
r = 0.1
Then convert r to R as a percentage
R = r × 100
R = 0.1 × 100
R = 10%/year
Learn more about compound interest
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Answer:
14.4km
Step-by-step explanation:
<h2>Speed = distance / time </h2>
- speed = 4.8 km/h
- time = 3 hrs
- distance = ?
Distance = speed * time
Distance = 4.8 * 3 = 14.4km
Answer:
200-5x and 90
Step-by-step explanation:
we don't know how many weeks she spent at first so we make the equation 200-5x
and then it would be 5x22 which is 110
so 200-110=90
I'd like to assume that the triangle is a right triangle and you solve for x so...
133 + c = 180 (supplementary property to find one angle of triangle)
c = 47
x = 180 - 90 - 47 (int. angles of triangle = 180)
= 90 - 47
= 43
Therefore, x is 43 degrees
Answer:
6+12y
Step-by-step explanation:
first, distribute the 2 to the parenthesis:
-multiply the 2 to the 3 and 6y
We get 6+12y
hope this helps :)
