If you invest $1,600 at 5.35% for 18 months how much simple interest is earned
2 answers:
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Answer:
see attached
Step-by-step explanation:
The vector -u will be in the opposite direction of u. The magnitude is 7.81, but the angle is 129.81° -180° = -50.19°. A graph of it is attached.
_____
The (x, y) components are ...
7.81(cos(-50.19°), sin(-50.19°)) ≈ (-5.00, -6.00)
Answer:
The rate of return is 8%.
Step-by-step explanation:
The time span from 1794 to 2018 is (2018 - 1794) = 224 years.
Now, a penny i.e. 0.01 pounds of money as a principal gets the final sum of 345000 pounds after 224 years.
Here we have to calculate the rate of return if the interest is compounded yearly.
Using the formula of compound interest of r% APR, we get
⇒ 1 + 0.01r = 1.08
⇒ 0.01r = 0.08
⇒ r = 8% (Answer)