Answer:
Interest earned= $200
Step-by-step explanation:
Giving the following information:
Initial investment= $20,000
Interest rate= 3%
Inflation rate= 2%
First, we need to calculate the real interest rate. <u>The inflation rate decreases the value of money through time. We need to deduct from the interest rate, the inflation rate.</u>
Real interest rate= 0.03 - 0.02= 0.01
<u>Now, we can calculate the interest earned in year 1:</u>
Interest earned= PV*(1+i)^n - PV
Interest earned= 20,000*(1.01^1) - 20,000
Interest earned= $200
(Not my own work.)
8 = 2 x 2 x 2
<span>30 = ...........2 x 3 x 5 </span>
<span>75 = ................3 x 5 x 5 </span>
<span>-------------------------------------- </span>
<span>....= 2 x 2 x 2 x 3 x 5 x 5 </span>
<span>....= 600</span>
Answer:
The answer to the question provided is $7.01
Decimals that are equivalent to fractions with denominators of 100
Answer:
y = - 3
Step-by-step explanation:
Given the 2 equations
6x + 11y = - 3 → (1)
4x + y = = 17 → (2)
Multiplying (1) by 4 and (2) by - 6, then adding will eliminate the term in x
24x + 44y = - 12 → (3)
- 24x - 6y = - 102 → (4)
add (3) and (4) term by term to eliminate x
0 + 38y = - 114
38y = - 114 ( divide both sides by 38 )
y = - 3
