The 2 equations are
18.20x+19.50y=230.10
and
x+y=12
where x is the months of original cost and y is months for new cost. Since you know that you paid for one year (12 months) you can make the second equation. Then you want to substitute the first equations x by making the second equation
x=(12-y)
18.20(12-y)+19.50y=230.10
218.40-18.20y+19.50y=230.10
1.30y=11.70
y=9
so that means you had the original rate for 3 months and the new one for 9 months
Answer:
Annually: Total Amount = 1611.76, Interest Amount = 711.76
Semiannually: Total Amount = 1625.50 , Interest Amount = 725.50
Quarterly: Total Amount = 1632.62 , Interest Amount = 732.62
Step by Step Explanation:
We can see from the table that the factor that we need to multiply with 900 in order to get amount for compounded annually is 1.7908477. Therefore, our total amount is 1.7908477*900 = 1611.76 and interest earned is 1611.76-900 = 711.76.
The factor that we need to multiply with 900 in order to get amount for compounded semiannually is 1.8061112. Therefore, our total amount is 1.8061112*900 = 1625.50 and interest earned is 1625.50-900 = 725.50.
The factor that we need to multiply with 900 in order to get amount for compounded semiannually is 1.8140184. Therefore, our total amount is 1.8140184*900 = 1632.62 and interest earned is 1632.62-900 = 732.62.
Answer:
$1.00
Step-by-step explanation:
Answer:
12%
Step-by-step explanation:
I = Prt
r = I/Pt
r = 792 / 2200(3)
r = 0.12
