On his math homework assignment, Steven solved six problems correctly and eight incorrectly. Write a ratio comparing Steven’s nu
1 answer:
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Answer: r= 1.22
Step-by-step explanation:
Formula for amount with simple interest =
, where
P= principal value , r= rate of interest , t = time.
Given: P= $2000, t= 5 years, r= 1.25% = 0.0125
Formula to compute compound amount :
When both have same worth then
taking log on both sides , we get
Hence, Value of r= 1.22