Answer:
<u>The additional 1.3% of increase in the annual interest rate that Jack is receiving in his savings account, from 2.8% to 4.1%, represent an increase of 46.42%.</u>
Step-by-step explanation:
Jacks's savings account annual interest rate before = 2.8%
Jacks's savings account annual interest rate after the increase = 4.1%
Difference of the two rates = 4.1% - 2.8% = 1.3%
How much percentage is that additional 1.3% from the rate before the increase?
(1.3 * 100)/ 2.8 = 130/2.8 = 46.42%
<u>The annual interest rate increased by 46.42% from the previous annual interest rate.</u>
Answer:
399.420
Step-by-step explanation:
1) Use the algorithm method.
4 7 . 5 5
× 8 . 4
1 3 2 2
1 9 . 0 2 0
3 6 4 4
3 8 0 . 4 0 0
3 9 9 . 4 2 0
2) Therefore,
.
399.420
Answer:
$7, 657
Step-by-step explanation:
Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one. The total initial amount of the loan is then subtracted from the resulting value.
Answer:
the right answer is option B)4