1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anestetic [448]
3 years ago
11

Suppose you loan $320 to a friend and charge them 11% annual interest. If they don't pay any back, how many years will it take f

or them to owe you $2,000? Round your answer to the nearest hundredth (2 places after the decimal).​
Mathematics
1 answer:
AnnZ [28]3 years ago
5 0

Step-by-step explanation:

For them to owe you a total of$2000 then an interest of $2000-320=$1680 must have accrued over the time <em>T</em>

<em>T</em><em>=</em><em>$</em><em>1</em><em>6</em><em>8</em><em>0</em><em>×</em><em>1</em><em>0</em><em>0</em><em>/</em><em>3</em><em>2</em><em>0</em><em>×</em><em>1</em><em>1</em>

<em>T</em><em>=</em><em>4</em><em>7</em><em>.</em><em>7</em><em>2</em><em>7</em><em>2</em><em>.</em><em>.</em><em>.</em><em>≈</em><em>4</em><em>7</em><em>.</em><em>7</em><em>3</em><em> </em><em>to</em><em> </em><em>the</em><em> </em><em>nearest</em><em> </em><em>hundredth</em>

Proof,

Interest after 47.7262...years which is converted to 525/11 years

=($320×11×525/11)/100

=$1680

therefore total amount which will be owed at that time =principal+interest accrued

=$320+1680=$2000

You might be interested in
Martin ran 6.5 miles in one hour. At that speed, how many miles will he<br> three hours?
NNADVOKAT [17]
ANSWER: Martin will run 19.5 miles in 3 hours.

STEP-BY-STEP EXPLANATION: 6.5 x 3 = 19.5
7 0
3 years ago
Read 2 more answers
What is the sampling method used in the following scenario? The marketing manager for an electronics chain store wants informati
IRISSAK [1]

Answer:

Step-by-step explanation:

The method applied in this scenario is called simple random sampling. A sample of 100 customers is chosen from a larger population of customers and each customer has the same chance of being selected for the survey at any given time. Also, the chance of selecting 100 customers from each store is the same during the sampling process. The order of sampling at each store does not follow a certain order, thus, It is different from systematic random sampling.

3 0
3 years ago
6 helppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppppp
jeka94
A) 15
B) 4
C) 225
D) 450
8 0
3 years ago
Read 2 more answers
It takes Mark 3 minutes to make 1 1/2 inches of a bracelet. If he works at the same speed, how many minutes will it take him to
RUDIKE [14]

Answer:

  24 minutes

Step-by-step explanation:

Working at the same speed, the ratio of time to length is the same:

  time/length = t/12 = 3/(1.5)

  t = 12(3/1.5) = 12(2) = 24

It will take Mark 24 minutes to make a 12-inch bracelet.

7 0
4 years ago
A trumpet player is currently standing in position (3, 2) on a gridded football field. Her bandleader
photoshop1234 [79]

Answer:

(1, 3)

Step-by-step explanation:

Current position (3,2)

Moving left of the x axis results in a decrease, so: 3 - 2 (As she is moving 2 units to the left)

Moving up results in a positive increase on the y axis, so: 2 + 1 (As she is moving one unit up)

3 0
4 years ago
Other questions:
  • A grilled chicken salad at a popular fast food restaurant contains 650mg of sodium, which is 27% of the recommended daily amount
    5·2 answers
  • The letters of "FALCONS" should be evenly spaced across a 59-inch-wide banner, with no margins. Each letter is 5 inches wide. Ho
    7·1 answer
  • 1. 40-(-40)+(5x4) i need to know this for my online classes to pass
    7·2 answers
  • I WILL GIVE BRAINLIEST! Which table of values corresponds to the graph below?
    12·2 answers
  • You are playing a game in which each player wins, loses, or daws(ties) at each turn. For each turn won, you are awarded 5 points
    15·1 answer
  • Charles invested $15,000 in stocks and bonds. He made a 12% profit on his stock investments and a 5% profit on his bond investme
    7·2 answers
  • Solve the inequality -5(x-7)&lt;15 algebraically for x
    15·1 answer
  • Is 5y + 27 factorable or prime<br>explain​
    7·2 answers
  • In the expression 6x^2 + 9, which is the coefficient?
    12·1 answer
  • Frank has constructed a tent in the shape of a square pyramid.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!