A dartboard has 8 equally sized slices numbered from 1 to 8. Some are grey and some are white, as shown below.
1 answer:
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Remark
I'm going to interpret this equation as
D = ut + kt² The only difference is the 2.
Solution
Subtract kt² from both sides.
D - kt² = ut Now divide by u on both sides.
The t's cancel out. on the right. You are left with u on the right.
Answer:
a) Effective annual rate: 18.6%
b) Effective annual rate: 20.27%
c) Effective annual rate: 20.43%
d) Effective annual rate: 20.44%
Step-by-step explanation:
The effective annual interest rate, if it is not compounded continuously, is given by the formula
where
<em>C = Amount of the credit granted </em>
<em>r = nominal interest per year </em>
<em>n = compounding frequency </em>
<em>t = the length of time the interest is applied. In this case, 1 year. </em>
In the special case the interest rate is compounded continuously, the interest is given by
(a) Annually
The effective annual rate is 18.6%
(b) Monthly
<em>There are 12 months in a year </em>
The effective annual rate is 20.27%
(c) Daily
<em>There are 365 days in a year </em>
The effective annual rate is 20.43%
(d) Continuously
The effective annual rate is 20.44%