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:
1. 75
2. Cornbits
Step-by-step explanation:
1. 12/100 = 9/x
x = 75
2. Tasty Oats || 100/12 = 8.33g protein/gram cereal
Cornbits || 45/5 = 9g protein/gram cereal
Answer:
there are 60 minutes per hour and 60 seconds per minute
60x 60 = 3600 seconds her hour
21000/3600 = 5.83 miles per second
Step-by-step explanation:
Since the discriminant is positive, this means we have two distinct real solutions.
If a, b, and c are rational numbers, then a discriminant of D = 40 indicates the two solutions are not rational. We would need D to be a perfect square to get two rational solutions.
Answer:
4/12
Step-by-step explanation:
What is the question specifically
1 4
_ = _
3 12
