What is the annual interest rate on an account in which earn, Mathematics

Assignment Help:

What is the annual interest rate on an account in which earns $948 in simple interest over 36 months along with an initial deposit of $7,900?

Using the easy interest formula Interest = principal × rate × time, or I = prt, substitute p = $1,250, r = 0.034 (the interest rate as a decimal), and t = 1.5 (18 months is equal to 1.5 years); I = (1,250)(.034)(1.5). Multiply to obtain a result of I = $63.75. To ?nd the total amount in the account after 18 months, add the interest rate to the initial principal. $63.75 + $1,250 = $1313.75.


Related Discussions:- What is the annual interest rate on an account in which earn

PROBLEM SOLVING, The perimeter of a rectangular swimming pool is 60m. The l...

The perimeter of a rectangular swimming pool is 60m. The length of the pool is 4 m more than the width. What is the width of the pool?

#change of ratio, #in a picnic the ratio of boys to girls is 3:4. when 6 bo...

#in a picnic the ratio of boys to girls is 3:4. when 6 boys joined the group the ratio became even. how many boys were there before? how many children were there before? how many b

What is the probability of getting a royal flush, Q. What is the probabilit...

Q. What is the probability of getting a Royal Flush? Ans. Five cards are picked from a standard deck of 52 cards. How many different hands of five cards are possible? What

Proof of various integral facts- formulas, PROOF OF VARIOUS INTEGRAL FACTS/...

PROOF OF VARIOUS INTEGRAL FACTS/FORMULAS/PROPERTIES In this section we've found the proof of several of the properties we saw in the Integrals section and also a couple from t

Randy, write in factor form 9x3+9x5

write in factor form 9x3+9x5

Negative signs in fractions, Q. Negative Signs in Fractions? It reall...

Q. Negative Signs in Fractions? It really doesn't matter where you put a negative sign in a fraction.  The following are all the same: The negative sign can go in

Determine randomly generated bit string, Assume E is the event that a rando...

Assume E is the event that a randomly generated bit string of length 4 starts with a 1 and F is the event that this bit string consists of an even number of 1's. Are E and F indepe

Apply depth-first-search to find out the spanning tree, Apply depth-first-s...

Apply depth-first-search to find out the spanning tree for the subsequent graph with vertex d as the starting vertex.        Ans: Let us begin with node'd'. Mark d as vi

Simplex method, max z=3x1+2x2 s.t x1+2x2 3x1+2x2>=6 x1+4x2 ...

max z=3x1+2x2 s.t x1+2x2 3x1+2x2>=6 x1+4x2 x1,x2,x3>=0

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd