The equation says
A=p(1+r)^t
A=103(1+0.02)^t
So the interest rate is
0.02*100=2%
Answer: The correct option is C
Step-by-step explanation:
You begin a job with an annual salary of $32,900
Each year you are assured of a 5.5%. If you get the same amount each year, that is a 100% payment. It is neither reducing nor increasing. But with an increase of 5.5% each year, it means you are getting (100+5.5)% each year. This equals 105.5%. So for each year, you get 105.5% of the previous year.
This is a geometric progression. To determine the total amount that you can earn in 15 years, we will find the sum of 15 terms, S15 of the series. The formula for sum of the nth term of a geometric progression is expressed as
Sn = [a(r^n - 1)] / r - 1
Where
Sn = sum of the nth terms of the series
a = the first term(salary of the first year
r = common ratio
n = number of years.
From the question,
a = 32900
n = 15
r = 105.5/100 = 1.055
S15 = [32900(1.055^15 - 1)] / 1.055 - 1
S15 = [32900(2.23247649224 - 1)] / 0.055
S15 = [32900 × 1.23247649224] / 0.055
S15 = $737245
Answer:
The answer is 2593.678
Step-by-step explanation:
Answer:
-5.995
Step-by-step explanation:
The purple pieces are 35 and total pieces is 32 if the Kenzie makes quilts from blue and purple pieces of fabric.
<h3>What is the ratio?</h3>
It is described as the comparison of two quantities to determine how many times one obtains the other. The proportion can be expressed as a fraction or as a sign: between two integers.
The question is incomplete.
The complete question is in the picture, please refer to the picture.
Total number of pieces = 3+5 = 8
So, the purple pieces = 5(5/8) = 35
Total pieces = 20/(5/8) = 4×8 = 32
Thus, the purple pieces are 35 and total pieces is 32 if the Kenzie makes quilts from blue and purple pieces of fabric.
Learn more about the ratio here:
brainly.com/question/13419413
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