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eimsori [14]
3 years ago
14

Suppose Bank One offers a certificate of deposit that pays $5,000 in four years for exchange for $4,000 today. What interest rat

e is Bank One offering?"
Mathematics
1 answer:
vlada-n [284]3 years ago
7 0

Answer:

Bank One is offering a simple interest rate of 6.25% per annum.

Step-by-step explanation:

Given that Bank One offers a certificate of deposit that pays $ 5,000 in four years for exchange for $ 4,000 today, to determine what interest rate is Bank One offering the following calculation must be performed:

(5000 - 4000) / 4 = X

1000/4 = X

250 = X

4000 = 100

250 = X

250 x 100/4000 = X

25000/4000 = X

6.25 = X

Therefore, Bank One is offering a simple interest rate of 6.25% per annum.

You might be interested in
With a family bowling pass, families can bowl for $4 per game . The pass cost $10 per year. Use equation , a table and a graph t
Klio2033 [76]

Answer:

Part a) a=4g+10 (see the explanation)

Part b) see the explanation

Part c) The graph in the attached figure

Step-by-step explanation:

<u><em>The complete question is</em></u>

With a family bowling pass, families can bowl for $4 per game. The pass costs $10 per year. Use an equation, a table, and a graph to explain the relationship between the total amount of money spent on bowling in a year, a, and the number of games a family plays in a year, g. Part A Use words and an equation to represent this problem. Part B Create a table to show values for g and a. Part C Use the values from your table to draw a graph.

Part A) Use words and an equation to represent this problem

Let

a ----> the total amount of money spent on bowling in a year

g ---> the number of games a family plays in a year

we know that

The linear equation in slope intercept form is equal to

a=mg+b

where

m is the slope or unit rate

b is the a-intercept or initial value

In this problem we have

m=\$4\ per\ game

b=\$10

substitute

a=4g+10

Part b) Create a table to show values for g and a

Assume different values of g and calculate the corresponding values of a

For g=0 ----> a=4(0)+10=\$10

For g=1 ----> a=4(1)+10=\$14

For g=2 ----> a=4(2)+10=\$18

For g=3 ----> a=4(3)+10=\$22

For g=4 ----> a=4(4)+10=\$26

The table is

\left[\begin{array}{ccc}g&a\\0&10\\1&14\\2&18\\3&22\\4&26\end{array}\right]

Part c) Use the values from your table to draw a graph

we have the ordered pairs

(0,10),(1,14),(2,18),(3,22),(4,26)

Plot the ordered pairs and join them to graph the line

The graph in the attached figure

6 0
3 years ago
Solve the following equations with any method. Justify your reasoning. 1. (5x-8)=(8x-17) 2.(3x+5)+(4x-7)=180
3241004551 [841]
1. (5x-8)=(8x-17)
5x-8x=-17+8
-3x=-9
x=3

2. (3x+5) + (4x-7) =180
3x+5+4x-7=180
3x+4x=180-5+7
7x=182
x=26
8 0
3 years ago
A person borrows $10,000 and repays the loan at the rate of $2,400 per year. The lender charges interest of 10% per year. Assumi
omeli [17]

Answer:

a) M(t)=24000-14000e^{t/10}

b) It takes 5.390 years to pay off the loan.

Step-by-step explanation:

(a) The differential equation for the variation in the amount of the loan M is

\frac{dM}{dt}=0.1M-2400

We can express this equation as:

\frac{dM}{dt}=0.1M-2400\\\\10\int \frac{dM}{M-24000} =\int dt\\\\10ln(M-24000)=t\\\\M-24000=Ce^{t/10}\\\\M=Ce^{t/10}+24000\\\\M(0)=Ce^{0/10}+24000=10000\\\\C+24000=10000\\\\C=-14000\\\\M(t)=24000-14000e^{t/10}

(b) We can calculate this as M(t)=0

M(t)=24000-14000e^{t/10}=0\\\\e^{t/10}=24000/14000=1.714\\\\t=10ln(1.714)=10* 0.5390=5.390

It takes 5.390 years to pay off the loan.

8 0
3 years ago
Please help! I’ll give you brainliest immediately
kodGreya [7K]

For the lines to be parallel the two angles need to be equal to each other:


128-x = x

Add 1x to both sides

128 = 2x

Divide both sides by 2:

X = 128/2

X = 64


Answer: x = 64

3 0
2 years ago
Write a number with two decimals places that is bigger than 4 1/5 but smaller then 4.25 (Could u explain so i can actually under
zubka84 [21]
<u>The possible answers are:
</u>
<u /><u /><u><em /></u>4.21
4.22
4.23
4.24

Explanation:
We want a number between 4 1/5 and 4.25.  We will convert 4 1/5 to a decimal first:

Divide 1 by 5:  1/5 = 0.2.

This makes 4 1/5 = 4 + 1/5 = 4 + 0.2 = 4.2.

We want a number between 4.2, which can be written as 4.20, and 4.25.  Any number between will do, so the possible answers would be 
4.21, 4.22, 4.23, or 4.24.<u />
7 0
3 years ago
Read 2 more answers
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