Answer:
Interest rate = 2.41%
Step-by-step explanation:
The total value of an investment was $305.33 after $240 was invested for 10 years compounded monthly. Find the interest rate.
The formula to calculate the Interest rate for a Compound Interest is given as:
Solving for rate r as a decimal
r = n[(A/P)^1/nt - 1]
r = 12 × [(305.33/240.00)^1/(12)(10) - 1]
r = 0.0240996
Then convert r to R as a percentage
R = r * 100
R = 0.0240996 * 100
R = 2.41%/year
Therefore, the Interest rate = 2.41%
Answer:
tricky ill be right back
Step-by-step explanation:
Answer:
y = -5x + 3
Step-by-step explanation:
y = Ax + B
A = slope
B = y intercept
y = -5x + 3
Answer:
Step-by-step explanation:
-3 is the difference
144 cm^2
Bottom 32 + slant 40 + 2 sides 24 each + back 24