If an amount of money, called principle, p, is deposited into an account that earns interest at a rate r, compound annually, then in two years that investment will grow to an amount A, given by the formula A=P(1+r)^2. If a principle amount of $5000 grows to $5940.50 in two years, what is the interest rate?

Answers

Answer 1
All u gotta do is plug numbers substituted by the variable into the equation.
A = P(1+r)^t
A = $5940.50 
P = $5000
r = ?
t = 2yrs
$5940.50 = $5000(1+r)^t
--------------    --------------------
  $5000            $5000
1.1881 = (1+r)^2
sqrt(1.1881) = 1+r
1.09 = 1+r
     -1     -1
-------   ----
0.09 = r
r = 0.09
Answer 2

Final answer:

By using the compound interest formula A=P(1+r)² and the given values, we find the interest rate to be approximately 0.09, or 9% annually.

Explanation:

To find the interest rate r that grew the principal P from $5000 to $5940.50 over two years with compound interest, we use the formula A=P(1+r)². Here, A is the amount of money accumulated after n years, including interest. We are given that A is $5940.50 and P is $5000.

Let's plug in the values and solve for r:

5940.50 = 5000(1+r)²
1.1881 = (1+r)²

To find r, we take the square root of 1.1881:

Subtracting 1 from both sides to isolate r, we get:

r = 1.09 - 1
r = 0.09

The approximate interest rate is 0.09, which means the annual interest rate is 9%.


Related Questions

A train moving at a constant speed of 70.0 km/h moves east for 45.0 min, then in a direction 55.0° east of due north for 25.0 min, and then west for 55.0 min. what is the average velocity of the train during this run? (let the +x-axis point towards the east and the +y-axis point towards the north.)

Answers

We know the starting point and the ending point.  Find the vector that connects the starting point to the ending point, and then divide this by the total time elapsed (45.0 + 25.0 + 55) min.

The result will be your average velocity (a vector quantity).

The last wednesday in a certain month is on the 26th day of that month. What day of the week is the first day of that month?

Answers

Let’s determine the first Wednesday. This would be 26 - 7n until we reach a number between 1 and 7. Thus, this would be 26 - 7(3) = 5. Thus, the 5th day of that month was a Wednesday. 4th = Tuesday, 3rd = Monday, 2nd = Sunday, and 1st = Saturday. Thus, the first day of the month was Saturday.
Final answer:

Subtract the first day of the month from the date of the last Wednesday and divide by 7 to find the remainder. Count backwards from Wednesday to determine the day of the week for the first day of the month, which is Saturday in this case.

Explanation:

The subject of this question pertains to dates and the calendar, which fall under the domain of Mathematics. To answer the question, we need to calculate how many days have passed from the 26th (the last Wednesday) to the 1st day of the same month. A week has seven days so we use the principles of modular arithmetic, a branch of number theory. The 26th day is a Wednesday, and for every seven days we go back, it will still be Wednesday. Thus, the difference from 26 to 1 is 25. Dividing 25 by 7, we get a quotient of 3 and a remainder of 4. This tells us that four days before the last Wednesday, which was the 26th, would be the first day of the month. Going backwards from Wednesday, we count Tuesday (1), Monday (2), Sunday (3), and Saturday (4). Therefore, the first day of that month falls on a Saturday.

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43 ones x 3 tens= Tens

Answers

43 ones x 3tens would give you 129 tens. 43x30=1290 so you then divide 1290 by 10 which gives you 129 tens

Place value is the value of each digit in a number. 

The value of 43 ones x 3 tens is 129 tens

43 ones x 3 tens = 129 tens.

What is a place value?

Place value is the value of each digit in a number. 

Example: 2345.67

2 – thousands place value

3 – hundreds place value

4 – tens place value

5 – ones place value

6 – tenths place value

7 – hundredths place value

We have,

43 ones x 3 tens

43 ones can be written as 43

3 tens can be written as 30

So,

43 ones x 3 tens = 43 x 30

43 x 30 = 1290

This means,

1290 = 129 tens

43 ones x 3 tens = 129 tens

Thus,

The value of 43 ones x 3 tens is 129 tens

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is 30 x 10 to the 3rd power equal 30000

Answers

yes, it is. hope i was helpful!

Yes,[tex]\(30 \times 10^3\)[/tex] is equal to 30,000.

When we have a number written in scientific notation, such as [tex]\(10^3\),[/tex] it means we are multiplying the base (which is 10 in this case) by itself a certain number of times, indicated by the exponent (which is 3 in this case).

So, [tex]\(10^3\)[/tex] means [tex]\(10 \times 10 \times 10\)[/tex], which equals 1,000.

Therefore, when we multiply 30 by [tex]\(10^3\)[/tex], it's equivalent to multiplying 30 by 1,000, which results in 30,000.

round 7300 correct to one significant figure.

Answers

the answer is 7000. 

Any zero that isnt trapped between two non-zero numbers (on the left side of the decimal) is insignificant, therefore the 3 rounds down. hope this helped!

Hello There!

Significant figure means you should have x amounts of numbers that aren't zero.
In this case you are required to have one number that isn't a zero.
Therefore you round down to give you 7000 as your final answer.

To get a better idea follow through the rest:
E.g Round 64, 492 to two significant figures.
This means you'd have two numbers that aren't a zero.
So you're final answer would have been 64000.

Hope This Helps You!
Good Luck :) 

- Hannah ❤

Jackie's watch loses two minutes every hour. Adam's watch gains one minute every hour. They both set their watches at the radio at 6:00 am, then start their journey to the airport. When they arrive (at the same time) their watches are twelve minutes apart. What is the real time they arrive at the airport?

Answers

Ratio of loss of tinme of Jackies warch to the gain of time of Adam's watch is 2 : 1

Let the number of hour ellapsed at the time they are twelve minutes apart be x, then

2x + x = 12

⇒ 3x = 12

⇒ x = 12 / 3 = 4

Thus, after 4 hours Jackie's watch has lost 8 minutes and Adam's watch has gained 4 minutes.

Therefore, the real time at the time they arrive at the airport is 10:00 am.
10:00 am If you look at the problem, you'll realize that Jackie's and Adam's watches diverge from each other by 3 minutes every hour of real time. So when they arrive, their watches differ by 12 minutes, so they've actually spend 12/3 = 4 hours travel time. Since they both started traveling at exactly 6:00 am using a common authoritative time standard (the radio). The current time is now 6:00 am + 4 hours = 10:00 am.

How many choices if 2 of the friends will only attend together?

Answers

Is there more information for this question? It seems like you forgot something.

The probability that Jinelle’s bus is on time is 2/3 , and the probability that Mr. Corney is driving the bus is 4/5. What is the probability that on any given day Jinelle’s bus is on time and Mr. Corney is the driver?

Answers

The answer will be 8/15

The probability that on any given day Jinelle’s bus is on time and Mr. Corney is the driver is (8/15).

What is probability?

Probability is the chance of happening an event or incident.

Given, the probability that Jinelle’s bus is on time is 2/3.

The probability that Mr. Corney is driving the bus is 4/5.

Therefore, the probability that on any given day Jinelle’s bus is on time and Mr. Corney is the driver is:

= (2/3) × (4/5)

= (8/15)

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What is the value of k? 0.5k+6=4k-8

Answers



6+8=4k-.5k
14=3.5k
So K=4




this is the answer check it out

When twotwo basketball players are about to have a​ free-throw competition, they often draw names out of a hat to randomly select the order in which they shoot. what is the probability that they shoot free throws in alphabetical​ order? assume each player has a different name?

Answers

There are 2! = 2 ways to arrange the names of two basketball players in a hat.

Since, the are going to throw alphabetically, there is 1 way for the names to be arranged alphabetically.

Therefore, the probability that they shoot free throws in alphabetical​ order is [tex] \frac{1}{2} = 0.5[/tex]

Final answer:

The probability of shooting free throws in alphabetical order is 0.5.

Explanation:

Probability of shooting free throws in alphabetical order:

Determine the total number of ways the players can shoot. There are 2 players, so 2! (2 factorial) = 2 ways.

Calculate the number of ways they can shoot in alphabetical order. As they have different names, only 1 way exists.

Probability = (Number of ways shooting in alphabetical order) / (Total number of ways to shoot) = 1/2 = 0.5.

a carpenter uses 65 shelves to make 13 bookcases. she uses the same number of shelves for each bookcase. are 32 shelves enough to build 6 more shelves?

Answers

First, we would need to figure out how many shelves are needed to build 1 bookcase. To do that, you would need to divide the number of shelves by the number of bookcases it can make. 
65 ÷ 13 = 5

Now we know, it takes 5 shelves to build a single bookcase.  The next step would be to find out how many shelves it would take to build 6 more bookcases.  To find the answer, you would multiply the number of shelves it takes to build 1 bookcase by the number of bookcases that need to be built. 
5 x 6 = 30

So, yes, 32 shelves would be more than enough to build 6 more bookcases.

I hope this helps! 

Franks quarter grades are 82.5, 94.7, and 87.9 what grade rounded to the nearest percent will frank need to recieve at least a an 89 % final course grade A.92% B.90% C.91% D.89% please show work

Answers

If you add 82.5+94.7+87.9+92=357.1 and then you need to divide 357.1/4 and you get 89.275 (round up so it would come out as 89)

Frank would have to get a 92% on his final course grade in order to get above an 89%.

80 miles per hour is how many feet per minute?

Answers

keeping in mind that, there are 5280 feet in 1 mile and 60 minutes in 1 hour.

[tex]\bf \cfrac{80~\underline{mile}}{\underline{hr}}\cdot \cfrac{5280~feet}{\underline{mile}}\cdot \cfrac{\underline{hr}}{60~min}\implies \cfrac{80\cdot 5280~feet}{60~min}\implies \cfrac{422400~feet}{60~min} \\\\\\ 7040\frac{feet}{min}[/tex]

Walter takes 7/10 of an hour to mow 2/5 of an acre of lawn. At this rate, how many acres will he mow in an hour?

Answers

[tex]\bf \begin{array}{ccll} hours&\stackrel{lawn}{acre}\\ \text{\textemdash\textemdash\textemdash}&\text{\textemdash\textemdash\textemdash}\\ \frac{7}{10}&\frac{2}{5}\\\\ 1&a \end{array}\implies \cfrac{\frac{7}{10}}{1}=\cfrac{\frac{2}{5}}{a}\implies \cfrac{\frac{7}{10}}{\frac{1}{1}}=\cfrac{\frac{2}{5}}{\frac{a}{1}}\implies \cfrac{7}{10}\cdot \cfrac{1}{1}=\cfrac{2}{5}\cdot \cfrac{1}{a} \\\\\\ \cfrac{7}{10}=\cfrac{2}{5a}\implies 35a=20\implies a=\cfrac{20}{35}\implies a=\cfrac{4}{7}[/tex]

Answer:

4/7 acres per hour

Step-by-step explanation:

Lenox ironed 1/4 of the shirts over the weekend. She plans to split the remainder of the work equally over the next 5 evenings.

Answers

3/20, or 0.15 of the shirts each evening


1 - 1/4 = 3/4

(3/4) / 5 = (3/4) / (5/1) = (3/4) x (1/5) = 3/20 = 0.15


a 3 pound pork loin can be cut into 10 pork chops of equal weight. how many ounces are in each pork chop? please show your work

Answers

Attached a solution and showed work.
Pounds to Ounce- 1 Pound -->16 ounces
3 Pound Pork Loin-48 Ounces
48÷10=4.8
Answer= Each Pork chop weighs 4.8 ounces

solve the equationX=15/x+1/4

Answers

Answer:

x = -3.75 or 4

Step-by-step explanation:

Multiply by 4x and solve the resulting quadratic in any of the usual ways.

... 4x² = 60 +x

... 4x² -x -60 = 0 . . . . . . . . . . . subtract 60+x

... (x -4)(4x +15) = 0  . . . . . . . . .factor the equation

... x = 4 . . . or . . . -15/4 . . . . . . the values that make the factors zero

_____

Comment on the graph

It is convenient to use a graphing calculator to find the zeros of a function, so it works well to rewrite the equation to be something that is equal to zero. Here, we've subtracted the right side, so we have ...

... f(x) = x - (15/x +1/4) = 0

Must a function that is decreasing over a given interval always be negative over that same interval ? Explain

Answers

check the picture below.

Answer:

For a function to be decreasing over an interval, the outputs on the function are getting smaller as the inputs of the function are getting larger, but the outputs could be positive or negative. For a function to be negative over an interval, the  outputs must be negative, while the inputs could be positive or negative.

What is the greatest perfect square that is a factor of 396? Explain

Answers

To find the greatest perfect square  that is a factor of 396, first we check what are the factors of 396
Factors of 396 are: 1,2,3,4,6,9,11,12,18,22,33,36,44,66,99,132,198,396
Now we check which is the greatest perfect square in these. 
396, 198, 132, 99, 66,44 are not perfect square,
so 36 is the largest perfect square from the factors of 396, 6 x 6 = 6² = 36

Number 49....I need help

Answers

now, keep in mind that, we'll be using 25mile intervals, notice, that at a cost of 200 bucks, it went for 50 miles, now the charges are just for every 25miles only, so, if you drive 30 miles, you pay for 25miles and if you drive for 49 miles, you still only pay for 25 miles, but because 50/25 is 2 intervals, then if you drive for 50 miles, you're paying for 2 intervals of 25miles, not just one.

now, also let's keep in mind that, when the car was driven for 200 miles, that's 200/25 or 8 25mile intervals, so the 25mile charge kicked in 8 times.

[tex]\bf \stackrel{cost}{y}=\stackrel{fixed~charge}{F}+\stackrel{25mile~intervals}{m}\quad \stackrel{25mile~charge}{x}\implies y=F+mx\\\\ -------------------------------\\\\ \begin{cases} 200=F+2x\implies 200-2x=\boxed{F}\\ 245=F+8x\\ ----------\\ 245=\boxed{200-2x}+8x \end{cases} \\\\\\ 45=6x\implies \cfrac{45}{6}=x\implies \cfrac{15}{2}=x\impliedby \begin{array}{llll} \textit{so the 25mile charge is}\\ \textit{7 bucks and 50cents} \end{array} \\\\\\ [/tex]

[tex]\bf 200=F+2\left( \frac{15}{2} \right)\implies 200=F+15\implies 185=F \\\\\\ \textit{and the \underline{fixed charge} is 185 bucks then, let's check for 450} \\\\\\ \boxed{y=185+\frac{15}{2}x}\qquad \begin{cases} 450~miles\\\\ \cfrac{450}{25}\implies 18~\textit{\underline{25mile intervals}}\\\\ x=18 \end{cases} \\\\\\ y=185+\cfrac{15}{2}\cdot 18\implies y=185+135\implies y=320[/tex]

There are five shelves of video games in a video store. There are six video games on each shel. how many video games are there on the shelves?

Answers

So if it’s asking how many video games are in total, you would multiply 5 time 6. This equals 30. So there are 30 video games in total

Answer:

I think its 30 as well

Step-by-step explanation:

Where are the negative rational numbers placed on a vertical number line

Answers

to the left of the zero.  hey to the left to the left to the left lol

Danny “Dimes” Donahue is a neighborhood’s 9-year old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.75 each, he sells 100. At a price of $1.25 each, he sells 300.

Answers

a. The elasticity of demand is 0.0225.

b. Demand is inelastic over this price range.

c. Total revenue would increase due to the more elastic demand resulting in a greater quantity demanded with a price decrease.

Let's first calculate the price elasticity of demand using the midpoint method:

a. Price elasticity of demand formula:

[tex]\[ E_d = \frac{\text{Percentage change in quantity demanded}}{\text{Percentage change in price}} \times \frac{\text{Average price}}{\text{Average quantity}} \][/tex]

Percentage change in quantity demanded:

[tex]\[ \text{Percentage change in quantity demanded} = \frac{300 - 100}{\frac{300 + 100}{2}} \times 100\% = \frac{200}{200} \times 100\% = 100\% \][/tex]

Percentage change in price:

[tex]\[ \text{Percentage change in price} = \frac{1.25 - 1.75}{\frac{1.25 + 1.75}{2}} \times 100\% = \frac{-0.5}{1.5} \times 100\% = -33.33\% \][/tex]

Average price and average quantity:

[tex]\[ \text{Average price} = \frac{1.25 + 1.75}{2} = \frac{3}{2} = 1.50 \]\[ \text{Average quantity} = \frac{300 + 100}{2} = \frac{400}{2} = 200 \][/tex]

Now, we can plug these values into the elasticity formula:

[tex]\[ E_d = \frac{100\%}{-33.33\%} \times \frac{1.50}{200} \]\[ E_d = -3 \times 0.0075 \]\[ E_d = -0.0225 \][/tex]

a. The elasticity of demand is 0.0225.

b. Since the elasticity of demand is less than 1, demand is inelastic over this price range.

c. If demand had the same elasticity for a price decline from $1.25 to $0.75 as it does for the decline from $1.75 to $1.25, cutting the price from $1.25 to $0.75 would increase Danny's total revenue because the demand would be more elastic, resulting in a greater increase in quantity demanded compared to the decrease in price.

Complete Question:

Danny “Dimes” Donahue is a neighborhood’s 9-year old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.75 each, he sells 100. At a price of $1.25 each, he sells 300.

Instructions: Use the midpoint method and round your answer to 2 decimal places. Do not include a minus sign.

a. What is the elasticity of demand?

b. Is demand elastic or inelastic over this price range?

c. If demand had the same elasticity for a price decline from $ 1.25 to $ 0.75 as it does for the decline from $ 1.75 to $ 1.25, would cutting the price from $ 1.25 to $ 0.75 increase or decrease Danny's total revenue?

What age was the mean of all the guesses (rounded to the nearest whole number)? 57 59 63 68 74?

Answers

The answer is 64, rounded from 64.2.

To get this, you just have to add all the numbers up, and then divide your answer by the amount of numbers you added (just for future reference in problems like these!).  To round to the nearest whole number, you look at the decimal: .2.  It's closer to 0 than it is to 10, so the 64.2 would round down to 64.

I hope this helps!

kim and brittany are selling chocolate chip cookies and red velvet cupcakes. kim made $81 selling 18 chocolate chip cookies and 12 red velvet cupcakes .brittany made $77 by selling 2 chocolate chip cupcakes and 24 red velvet cupcakes . what was the price of each type of cupcake ?

Answers

I use a website called papa math the chocolate chip cookies are $2.50 while the cupcakes are $3.00 what i did was this 81=18c+12r; 77=2c+24r hope it will help you the long way when you use the papa math calculator

Find the linear equation of the plane through the point (2,4,9) and parallel to the plane x+4 y+5 z+4 =0.

Answers

y = x + 5A linear equation (in slope-intercept form) for a line perpendicular to y = -x + 12 with a y-intercept of 5.y = 1/2x - 5Convert the equation 4x - 8y = 40 into slope-intercept form.y = -1/2x + 5A linear equation (in slope-intercept form) which is parallel to x + 2y = 12 and has a y-intercept of 5.3x - y = -5A linear equation (in standard form) which is parallel to the line containing (3, 5) and (7, 17) and has a y-intercept of 5.y = -3x + 1A linear equation (in slope-intercept form) which contains the points (10, 29) and (-2, -7).y = -5A linear equation which goes through (6, -5) and (-12, -5).x = -5A linear equation which is perpendicular to y = 12 and goes through (-5, 5).y = 5A linear equation which is parallel to y = 12 and goes through (-5, 5).y = -x + 5A linear equation (in slope-intercept form) which is perpendicular to y = x and goes through (3, 2).y = -5xA linear equation (in slope-intercept form) which goes through the origin and (1, -5).x = 2A linear equation which has undefined slope and goes through (2, 3).y = 3A linear equation which has a slope of 0 and goes through (2, 3).2x + y = -9A linear equation (in standard form) for a line with slope of -2 and goes through point (-1, -7).3x +2y = 1A linear equation (in standard form) for a line which is parallel to 3x + 2y = 10 and goes through (3, -4).y + 4 = 3/2 (x - 3)A linear equation (in point-slope form) for a line which is perpendicular to y = -2/3 x + 9 and goes through (3, -4).y - 8 = -0.2(x + 10)The table represents a linear equation.
Which equation shows how (-10, 8) can be used to write the equation of this line in point-slope form?

Divide.
-5 1/3 ÷ 2 3/4
A. -12 5/6
B. -7 5/12
C. -1 31/33
D. -1 11/12

Please answer fast!!!!!!

Answers

I believe the answer is c

Find the x-intercept of the graph of the equation: x + 6y = 7

Answers

the x intercept occurs when y = 0 so

x + 6(0) = 7

x + 0 = 7 
x = 7    

so x intercept is (7,0)

A total of 14000 votes were cast to two opposing candidates. Adam and Karl.Adam won by ratio of 4:3 how many votes were cast to karl?

Answers

8000 because add the ratio and divide to get 2000 now multiply by 4 to get 8000
ANSWER

The number of votes cast to Karl is
[tex]6000[/tex]

EXPLANATION

The total votes cast is

[tex]14000[/tex]

We were given that Adam and Karl won by ratio of
[tex]4:3[/tex]
This means the number of votes cast to Adam corresponds to 4, while that of Karl corresponds to 3.

The total ratio is

[tex] = 4 + 3 = 7[/tex]

Number of votes cast to Karl is

[tex] = \frac{Karl's\:ratio}{Total\:ratio} \times Total\:votes \:cast[/tex]

[tex] = \frac{3}{7} \times 14000[/tex]

This simplifies to,

[tex] = 3 \times 2000[/tex]

[tex] = 6000[/tex]

Therefore 6000 votes were cast in favour of Karl.

Dennis wrote down a three digit number, The digit in the tens place is 2 more than the digit in the hundreds place. The digit in the ones place is 6less than the digit in the tens place. The digit in the hundreds place is odd number. What is the three digit number?

Answers

793 . 9-7= 2. 9-6 =3 and 7 is an odd number
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