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

Learning to count in maths, Here we learn: 1) Discussed what counting me...

Here we learn: 1) Discussed what counting means, and stressed that it is not the ability to recite number names. 2) Talked about the need for a child to understand several pr

20 MARK QUESTION, Let E; F be 2 points in the plane, EF has length 1, and l...

Let E; F be 2 points in the plane, EF has length 1, and let N be a continuous curve from E to F. A chord of N is a straight line joining 2 points on N. Prove if 0 Prove that N ha

Example of one-to-one correspondence, An educator placed 10 pebbles in a ro...

An educator placed 10 pebbles in a row and asked four-year-old Jaswant to count how many there were. She asked him to touch the pebbles .while counting them. Jaswant counted the pe

Daily revenue for next 30 days, Owner of a computer repair shop has daily r...

Owner of a computer repair shop has daily revenue with mean $7200 and SD $1200 Daily revenue for next 30 days will be monitored. What is probability that daily revenue for those 30

Adding equally sized groups-prerequisites for multiplication, Adding Equall...

Adding Equally Sized Groups:  Once children have had enough practice of making groups of equal size, you can ask them to add some of these equal groups. They can now begin to atte

Left-handed limit, Left-handed limit We say provided we can mak...

Left-handed limit We say provided we can make f(x) as close to L as we desire for all x sufficiently close to a and x Note that the change in notation is extremely m

Pumping lemma for context free languages, 1. Construct a grammar G such tha...

1. Construct a grammar G such that L(G) = L(M) where M is the PDA in the previous question. Then show that the word aaaabb is generated by G. 2. Prove, using the Pumping Lemma f

Prove gcd value, Let a, b, c 2 Z + . (a) Prove that if a|b, then ac|bc f...

Let a, b, c 2 Z + . (a) Prove that if a|b, then ac|bc for all c. (b) If a|bc, can you conclude that either a|b or a|c? Justify your answer with a proof or a counter example.

Application of linear function, four times an unknown number is equal to tw...

four times an unknown number is equal to twice the sum of five and that unknown number

Sqrt n- sqrt 8836, How many integers satisfy (sqrt n- sqrt 8836)^2 Solutio...

How many integers satisfy (sqrt n- sqrt 8836)^2 Solution) sqrt 8836 = 94 , let sqrt n=x the equation becomes... (x-94)^2 (x-94)^2 - 1 (x-95)(x-93) hence  93 8649  the number o

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