What is the angle measure of angle ABC?
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The correct statement is that Sarah is paying interest compounded monthly at the rate of 7.496%.. So, the correct option from the above statement is B.
Compound interest can be calculated by the way of applying the values to the formula given in the information.
<h3>Compound Interest</h3><h3 />- Compound interest is best defined with the terms as interest given on accrued interest or the accumulated interest in addition to the interest on the principalprincipal amount.
- The formula to calculate Compounded interest is as below,
- The interest to be paid is calculated as $749.58 assuming that the principal was $10000 and the time for such loan was 1 year in the absence of information.
- Calculating further, we can find that the effective rate of interest on such a loan is at the rate of 7.496%, which is rounded off to the nearest three decimal places.
Hence, the correct option is B that the actual interest paid by Sarah at the rate of 7.250% for the period of 1 year will be effectively 7.496%
To know more about compound interest, click the link below.
If we want to has 100 in the denominator we have to divide numerator and denominator by 2. Then total value of fraction doesnt change.
Now read the fraction, its 23 hundreds, now just write as decimal, so, 0.23
Now read the fraction, its 23 hundreds, now just write as decimal, so, 0.23