The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.
<h3>What is compound interest?</h3>
The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.
The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.
Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.
Using the formula A = P(1 + r/n)^nt
Solving for rate r as a decimal
r = n[(A/P)^(1/nt) - 1]
r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]
r = 0.1
Then convert r to R as a percentage
R = r × 100
R = 0.1 × 100
R = 10%/year
Learn more about compound interest
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Answer:
No, not really.
dividing 25 into 4 equal groups, equals 6.25.
So no, you can not divide 25 into 4 equal group.
If if was 25 into 5 equal groups, then yes.
Hope this helps!!!
Please mark brainliest, if this helps. :)
Step-by-step explanation:
Answer:
Find the number which when divided by 35 gives the quotient 20 and remainder 18.
Step-by-step explanation:
The first answer is c
42cm(2)
I got ten. Here's the equation.
x = 1/2x + 5
<span>Subtract 1/2x from both sides to get all x's on one side </span>
<span>x - 1/2x = 1/2x - 1/2x + 5 </span>
<span>1/2x = 5 </span>
<span>Now multiple the left by 2 to get x, but since it's an equation, you need to also multiply the right by 2 to keep it =. </span>
<span>2 * 1/2x = 2 * 5 </span>
<span>x = 10 cats</span>
