1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kryger [21]
2 years ago
8

Use the following formula for compound interest. If P dollars is invested at an annual interest rate r (expressed as a decimal)

compounded n times yearly, the amount A after t years is given by
A= P(1+ r/n)^nt

Required:
What rate of interest is required so that $1000 will yield $1900 after 5 years if the interest rate is compounded monthly?
Mathematics
1 answer:
Yuki888 [10]2 years ago
8 0

Answer:

12.906%/year

Step-by-step explanation:

Given data

Principal= $1000

Final Amount= $1900

Time= 5 years

The compound interest formula is given as

A= P(1+ r/n)^nt

Solving for rate r as a decimal

r = n[(A/P)1/nt - 1]

r = 12 × [(1,900.00/1,000.00)1/(12)(5) - 1]

r = 0.12906

Then convert r to R as a percentage

R = r * 100

R = 0.12906 * 100

R = 12.906%/year

You might be interested in
A light bulb consumes
nasty-shy [4]
9900 watts-hours is how much it consumes in a period of 5 days and 12 hours.............to check this: multiply 1800 by 5 and it equals 9000 then you divide 1800 by 2 because 12hours is a half day and it is 900 after all that you add 9000+900 and it equals 9900
6 0
3 years ago
Read 2 more answers
What is the local tax deducted for $562 biweekly with 2 1/2% tax? $14.05 $ $21.10 $28.10 $140.50​
aksik [14]

The amount of tax that will be deducted will be A. $14.05

  • Amount given = $562
  • Tax percentage = 2 1/2%

In order to calculate the local tax that will be deducted, we've to multiply the amount that given by the tax percent and this will be:

= $562 × 2 1/2%

= $14.05

Therefore, the amount of tax that will be deducted will be $14.05

In conclusion, the correct option is A.

Read related link on:

brainly.com/question/25239215

7 0
2 years ago
Tim wants to ride his bike for 25 miles or less on some mountains bike trails . The table shows the distance of three different
Basile [38]

yo sup??

the sum of trails taken should be less than 25 miles

Black bear=B

Eagle Ridge=E

Doe Run=D

(btw names sound cool XD)

we will now try different combinations

B+E=7 1/2 ++ 10 1/4 which is clearly less than 25

B+D=7 1/2 + 8 3/4 which also less than 25

E+D=10 1/4 + 8 3/4 which is also less than 25

B+D+E=7 1/2 + 10 1/4 + 8 3/4 which is greater than 25

Therefore only the 1st,2nd and 3rd case are possible

Hope this helps.

7 0
3 years ago
Help!<br> Factor the expressions. <br> x2 + 6x − 40 =
Natalija [7]
The answer to this is (x-10) (x+4)
8 0
3 years ago
Read 2 more answers
What number is 28% of 25?
Anvisha [2.4K]

Answer:

7

Step-by-step explanation:

what number is 28% of 25

Is means equals and of means multiply

N = 28% of 25

Change to decimal form

N = .28* 25

N =7

7 0
3 years ago
Read 2 more answers
Other questions:
  • What is the square root of 5647
    5·1 answer
  • 4.10 x 10^-2/ (-2.05 x 10^4)=
    15·1 answer
  • I will be honest I'm having a major brain fart.. What's the line called and what's it do again? it's separating numbers.. Looks
    12·1 answer
  • Elizabeth is 11 meters into the race after 4 seconds but is only 13 meters in after 12 seconds (her tricycle is slow because she
    8·2 answers
  • Selena picks 1/2
    7·2 answers
  • Solve for a.<br> ab +c=d<br> a=b/(c-d)<br> a = (d - C)/b<br> a=b+c/d
    11·2 answers
  • USING TABLE RATIO BASEBALL CARDS Justin bought 40 packs of baseball cards for a discounted price of $64. If he sells 10 packs of
    5·1 answer
  • Hurry Yes Please Help I am handing A Brainlist
    13·1 answer
  • A pair of pants is discounted 25%. They now cost $104.25. What was the cost before the discount?
    12·1 answer
  • IM NOT UNDERSTAND THIS EQUATION CAN SOMEBODY HELP ME
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!