Answer:
APY = 0.04 or 4%
Step-by-step explanation:
Given the annual percentage rate of 3.5% that is compounded quarterly, and a principal of $6,500:
We can use the following formula to solve for the annual percentage yield (APY):
where <em>r</em> = interest rate = 3.5% or 0.035
<em> n</em> = number of compounding periods per year = 4
We can plug in the values into the equation:
APY = 1.03546 - 1
APY = 0.04 or 4%
The amount earned hourly by Ryan and the number of work hours required to cover his vacation cost are $29.75 and 63 hours respectively.
<u>Given the Parameters</u> :
- Total amount earned = $238
- Number of hours worked = 8 hours
Hourly earning = Total earning ÷ number of hours worked
Hourly earning = $238 ÷ 8 = $29.75
B.)
Vacation cost = $1850
Hourly earning = $29.75
<u>Number of work hours required</u> :
- Vacation cost ÷ Hourly earning
Therefore, Ryan will need to work for 63 hours to cover his vacation expenses.
Learn more : brainly.com/question/18796573
Answer:
20
Step-by-step explanation:
First, rewrite the numbers in numerical order:
8, 10, 10, 15, 15, 20, 20, 20, 20, 25, 25, 25, 35
Then find the middle number: (note there's 6 numbers on each side of <u>20</u>)
<em>8 10 10 15 15 20 </em><u>20</u> <em>20 20 25 25 25 35</em>
Hope this helps!
Answer:
Part A: He spends an average of $8.50 per day
Part B: He would save $17 per week
Step-by-step explanation:
