3 years ago

Matt invests £1800 for 2 years at a simple interest rate of 10%.

Mathematics

1 answer:

Snezhnost [94]3 years ago

6 0

Answer:

Step-by-step explanation:

P = 1800

R = 10%

T = 2 years

I = PRT

= 1800 * 10/100 * 2

= 1800 * 0.1 * 2

I = £360

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Step-by-step explanation:

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3 years ago

Read 2 more answers

An investment declines in value by 3% each month. By what percentage does its value decline in a year ?

babunello [35]

$\bf \qquad \qquad \textit{Annual Yield Formula}
\\\\
~~~~~~~~~~~~\left(1+\frac{r}{n}\right)^{n}-1
\\\\
\begin{cases}
r=rate\to 3\%\to \frac{3}{100}\to &0.03\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{monthly, thus twelve}
\end{array}\to &12
\end{cases}
\\\\\\
\left(1+\frac{0.03}{12}\right)^{12}-1\implies 1.0025^{12}-1~~\approx ~~ 0.03041596
\\\\\\
r\%=0.03041596\cdot 100\implies r\approx\stackrel{\%}{3.04}$