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Andru [333]
2 years ago
10

Someone please help

Mathematics
1 answer:
AleksandrR [38]2 years ago
6 0

Replace y with 31:

31 = 7x -4

Add 4 to both sides:

35 = 7x

Divide both sides by 7:

x = 5

Input x = 5

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2. What is the effective annual rate of an investment that pays 6% for 5 years, compounded semiannually?
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Answer:

effective annual rate is 6.16 %

Step-by-step explanation:

given data

rate = 6 % = 0.06

time 5 year = 10 semi annually

to find out

effective annual rate

solution

we know formula for annual effective rate of interest is

rate of  interest = (1+ r/n)^{n} -1

put here all value

rate of interest = (1+ 0.06/10)^{10} -1

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