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alina1380 [7]
2 years ago
7

Ron and amie opened an educational savings account for their daughter when she was born making a $5,000 initial investment. They

were unable to ever add anything else to the account. What was the rate of return if they had $10,000 in the account after 12 years
Mathematics
1 answer:
Arlecino [84]2 years ago
6 0

Interest rate= 0.083%

Step-by-step explanation:

Principal= $5000 Amount= $10000 Time period= 12 years

A=Amount, P= Principal, I= Simple Interest r= Rate of interest t= Time period

A= P+ I\\10000= 5000+ I\\I=10000-5000=5000\\I=Prt\\5000=5000*r*12\\r=5000/5000*12\\r=5000/60000\\r=0.083

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Using the given information, the average of r and s is 35.5

<h3>Calculating Average</h3>

From the question, we are to determine the average of r and s

From the give information,

The average of p, q and 27 is 28.

That is,  

(p + q + 27)/3 = 28

p + q + 27 = 3×28

p + q + 27 = 84

p + q = 84 - 27

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Also,

The average of p, q, r, s and 27 is 31

That is,

(p + q + r + s + 27)/5 = 31
p + q + r + s + 27 = 5 × 31

p + q + r + s + 27 = 155

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57 + r + s + 27 = 155

r + s = 155 - 57 - 27

r + s = 71

The average of r and s is (r + s)/2

(r + s)/2 = 71/2

(r + s)/2 = 35.5

Hence, the average of r and s is 35.5

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