Answer:
the answer depends on which type of interest we use:
- simple interest rate = 24%
- compound interest rate = 26.82%
Step-by-step explanation:
the interest rate paid for holding the cards one month 1/50 or 2%.
to convert 2% monthly interest rate to a simple annual rate:
monthly rate x 12 months = 2% x 12 = 24%
now to convert 2% monthly interest rate to an annual rate (using compound interest):
- = (1 + r)ⁿ - 1
- = (1 + 0.02)¹² - 1 = 1.2682 - 1 = 0.2682 or 26.82%
in compound interest, earned interest earns even more interest by itself besides the interest earned by the principal.
5.2g weighs more because A handful of paper clips is 5.2 grams. A handful of push pins is 500 centigram a. Which handful weighs more? So 1c equals .o1 grams so isn't it 5.2 g compared to .05 grams which then means the paper clips are heavier?
Make an equation system based on the problem
eg. a is the first number and b is the seond number
An equation for "<span>The sum of two numbers is 53" is
</span>⇒ a + b = 53
An equation for "<span>twice the first number minus three times the second number is 26"
</span>⇒ 2a - 3b = 26
<span>
Solve the equations by elimination and subtitution method
Eliminate a to find the value of b
a + b = 53 (multiplied by 2)
2a - 3b = 26
--------------------------------------
2a + 2b = 106
2a - 3b = 26
------------------- - (substract)
5b = 80
b = 80/5
b = 16
Subtitute the value of b to one of the equations
a + b = 53
a + 16 = 53
a = 53 - 16
a = 37
The numbers are 16 and 37</span>
