The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.
<h3>What is compound interest?</h3>
The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.
The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.
Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.
Using the formula A = P(1 + r/n)^nt
Solving for rate r as a decimal
r = n[(A/P)^(1/nt) - 1]
r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]
r = 0.1
Then convert r to R as a percentage
R = r × 100
R = 0.1 × 100
R = 10%/year
Learn more about compound interest
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Answer:
120 bricks = 10 kg
120 bricks × 10 kg = 1200 kg
1200 kg + 9000 kg = 10200 kg
600 in3
Work:
8•15
120•10
1200/2
=600in3
Plot the equation. If you wish to solve a polynomial, let y= polynomial and plot the graph. Best set up a table of values first.
Where the graph crosses the x axis there is a solution for x. There are also solutions for other horizontal lines (y values) by looking at intersections of the graph with these lines. This technique works for linear and non linear equations. You can also use graphs to solve 2-variable systems of equations by examining where the graphs intersect one another. The disadvantage is that you may not be able to have sufficient detail for high degrees of accuracy because of the scale of the graph and drawing inaccuracies.
