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3 years ago

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Chess Club is selling stuffed animals for Valentine's Day. It costs the council $2.00 per stuffed animal and a one time shipping

fee of $25.00. They sell the animals for $4.00 each. How many stuffed animals do they need to sell to break even?

1 answer:

gregori [183]3 years ago

5 0

Answer:

about six of them

Step-by-step explanation:

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The candy jar has 251 pieces of candy. Sophia adds 31 pieces of candy to it. If the candy is divided equally between 6 campers,

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Step-by-step explanation:

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3 years ago

Read 2 more answers

A credit card company charges 18.6% percent per year interest. Compute the effective annual rate if they compound, (a) annualy,

Darina [25.2K]

Answer:

a) Effective annual rate: 18.6%

b) Effective annual rate: 20.27%

c) Effective annual rate: 20.43%

d) Effective annual rate: 20.44%

Step-by-step explanation:

The effective annual interest rate, if it is not compounded continuously, is given by the formula

$I=C(1+\frac{r}{n})^{nt}-C$

where

<em>C = Amount of the credit granted </em>

<em>r = nominal interest per year </em>

<em>n = compounding frequency </em>

<em>t = the length of time the interest is applied. In this case, 1 year. </em>

In the special case the interest rate is compounded continuously, the interest is given by

$I=Ce^{rt}-C$

(a) Annually

$I=C(1+\frac{0.186}{1})-C=C(1.186)-C=C(1.186-1)=C(0.186)$

The effective annual rate is 18.6%

(b) Monthly

<em>There are 12 months in a year </em>

$I=C(1+\frac{0.186}{12})^{12}-C=C(1.2027)-C=C(0.2027)$

The effective annual rate is 20.27%

(c) Daily

<em>There are 365 days in a year </em>

$I=C(1+\frac{0.186}{365})^{365}-C=C(1.2043)-C=C(0.2043)$

The effective annual rate is 20.43%

(d) Continuously

$I=Ce^{0.186}-C=C(1.2044)-C=C(0.2044)$

The effective annual rate is 20.44%

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3 years ago