Answer:
The approximate monthly rate of growth is 1.24%
Step-by-step explanation:
we have the future value formula

we have
----> annual interest rate
so


Find the approximate monthly rate of growth
Remember that

so
Divide the number of periods t by 12

Applying power rules property



Convert to percentage

therefore
The approximate monthly rate of growth is 1.24%
Answer:
22/12
Step-by-step explanation:
Answer:
6
Step-by-step explanation:
We are given the number 107.263.
Using place value, locate the hundredths place.
107.2<u>6</u>3
The number 6 is in the hundredths place.
Hope this helps.
Answer
Given
Sean's house is currently worth $188,900.
According to a realtor, house prices in Sean's neighborhood will increase by 4.8% every year.
To prove
Formula

Where r is the rate in the decimal form.
As given


= 0.048
Put in the formula


Now also calculated monthly.
Formula

As given


= 0.048
Put in the formula



As the approximation quarterly growth rate of the value of sean's house is near the Compounded quarterly interest .
Thus Option (A) is correct.
i.e
The expression
reveals the approximate quarterly growth rate of the value of Sean's house.
Answer:
not enough information.
Step-by-step explanation: