2. Adam borrows $6,000 from his parents today for university fees and he promises
to pay a lump sum of $6,900 in 3 years' time. Calculate the following quantities
for the repayment arrangement:
(a) the effective annual interest rate.
(b) the equivalent simple annual interest rate.

Answers

Answer 1

Answer:

A) 4.77%.

B) 5%.

Step-by-step explanation:

Given that Adam borrows $ 6,000 from his parents today for university fees and he promises to pay a lump sum of $ 6,900 in 3 years' time, to calculate the effective annual interest rate and the equivalent simple annual interest rate the following calculations must be performed:

A)

6,900 = 6,000 x (1 + X / 1) ^ 3x1

6,900 = 6,000 x 1X ^ 3

6,900 = 6,000 x 1 x 4.77 ^ 3

Thus, the interest rate of said investment is 4.77% per year.

B)

(6,900 - 6,000) / 3 = 300

6,000 = 100

300 = X

300 x 100 / 6,000 = X

30000 / 6,000 = X

5 = X

Thus, the simple interest rate would be 5% per year.


Related Questions

PLEASE HELP WITH EXPLANATION

Mary always saved 45% of his salary. When his salary decreased by 20% in April, his savings decreased by $180.
How much was Mary’s salary before the decease?

Answers

Answer:

Step-by-step explanation:

Answer:

Is Mary a guy?  :|  

Step-by-step explanation:

I did this by just a good guess  , not really the right way

2000*.45=900  ( 900 is the old savings)

2000*.2 =400   ( how much her salary went down by )

2000-400=1600 ( new salary )

1600*.45 = 720    ( 45% of new salary is new savings

900-720=180      ( change in savings is 180 , the amount the question asks for)

Mary's old salary was 2,000

Convert the following angle from degrees to radians. Express your answer in simplest form. 435^

Answers

Answer:

29π/12.

Step-by-step explanation:

Multiply by π/180

= 435π/180

= 29π/12 radians.

an atom with 16 electrons must have how many shells? 

Answers

Answer:

3 shells

Step-by-step explanation:

1st shell: 2 electrons

2nd shell: 8 electrons

3rd shell: 6 electrons

Does 3/10 x 1/2 = 3/20 ?

Answers

Answer:

Yes

Step-by-step explanation:

yes, yes it does

yeah it does, you just multiply the numerators and the denominator

the actual length of a Corvette is 15 feet. Using the scale factor 1:3, determine the length of the model Corvette in inches

Answers

The length of the model will be 5”.

15/3=5

can 24 be the output

Answers

Answer:

For what

Step-by-step explanation:

For what the output has to be 24

Answer:

yes 24 output

Step-by-step explanation:

hahahahahhaa

mr. grover stayed on q hotel for two days. the room rent was ₹3,500 per day. he also had to pay a luxury tax of 7% on the room rent. how did he pay in all for two days?​

Answers

Answer:

[tex]After\ Tax = 7490[/tex]

Step-by-step explanation:

Given

[tex]Days = 2[/tex]

[tex]Rent = 3500[/tex] daily

[tex]Tax = 7\%[/tex]

Required

The total amount paid

For a day, he pays (without tax)

[tex]Rent = 3500[/tex]

For 2 days, he pays

[tex]Rent = 3500 * 2[/tex]

[tex]Rent = 7000[/tex]

After tax, his bills is:

[tex]After\ Tax = Rent + Rent * Tax[/tex]

[tex]After\ Tax = 7000 + 7000* 7\%[/tex]

[tex]After\ Tax = 7000 + 490[/tex]

[tex]After\ Tax = 7490[/tex]

1. A rectangular room measures 12 feet by 20 feet. It is going to be covered with carpeting that sells for $8.35 per square foot.

a. What is the area of the room in square feet?

b. How much would it cost to carpet the floor?

Answers

Answer:

a). 240sqft b). $2004 (+ labor I guess)

Step-by-step explanation:

the room is rectangular, so it's area is the product of the dimensions

12feet * 20feet = 240sqft

The cost is $8.35 per sqft, so we get

240sqft * $8.35/sqft = $2004

Answer:

A: 240

B: 1,980

Step-by-step explanation:

Finding the area of a 2d rectangle WxL, So it's 12x20 is 240.

I did 8.35 times the square footage, 240, and gotten 1,980.

Help me out with the correct answer!!!!!

Answers

Answer:

yellow i think

Step-by-step explanation:

9^2 + 40^2 = 41^2
(The dark blue box is the correct answer)


1.) Figure out what is 9^2 and 40^2
9 * 9 = 81
40 * 40 = 1600

2.) Now add those two numbers together
1600 + 81 = 1681

3.) Find the square root of 1681
√1681 = 41^2

And that’s how to figure out if a triangle is a right triangle. Hope this helped :D

What number would go in the boxes to have the sum of 4?

Answers

Answer:

2.964 is the answer.

which of these numbers is irrational?

Answers

Its gotta be C square root of 72


Katie received a speeding ticket that incurred a $125 fine. After one month, she will also
be charged late fees for every month that she is delinquent. The amount she pays is
modeled by an exponential function, and the following table reflects the amount she will
have to pay each month.
Month Paid
Amount Paid
$125
1
2
3
$137.50
$151.25
$166.38
4
a. Write a function that models the fine Katie will pay in terms of the month it is paid. (5
points)
b. Using your function, predict how much Katie will pay if she waits until month 12 to pay
her fine. (5 points)

Answers

Answer:

Try A

Step-by-step explanation:

is (24, 7, 25) a Pythagorean triple?

Answers

is (24, 7, 25) a Pythagorean triple?

Step-by-step explanation:

No

Can u guys pls help me on this question and pls explain how u got the answer

Answers

Answer:

Surface area : 143.1

Step-by-step explanation:

Ok so first,

Bottom : 35.1 ft

Front : 36

Right side : 36

Left side : 36

(paragraph) out of plato, arstotle and socrates qhich was the most profound impact on oiy society provides reasons and cite evidence.​

Answers

Answer:

Step-by-step explanation:

The ancient Greek philosophers Plato and Aristotle may seem like the quintessential Dead White Males, but in fact they’re very much alive. Twenty four centuries ago they laid the foundations of Western culture, and their ideas and insights still dictate essential features of our world right now, from what we eat to what we see on the Internet

this is what I found and i know feed off of

Enter the unknown value that makes this statement true:
25% of is 30.

Answers

Answer:

Ans is 120

Step-by-step explanation:

25 x 4 is a 100

therefore multiply 4 by 30 to find the 100%

or the ? value that makes the statement true

Ans is 120

Answer:

25% of 120 is 30

Step-by-step explanation:

25% = 0.25

0.25 y = 30

y= 30/0.25

y= 120

A 1/3
B 1/2
C 2
D 3
will give brainliesttt

Answers

Answer: A


Explanation:

Kenji has 54 books, 17 of the books are mysteries. 22 of the books are adventure stories. The rest of the books are about animals. How many of the books are about animals? ​

Answers

The answer is 15 animal books

Olga saves $15 from every paycheck to save up for a new game system that cost $399. Currently, she has $360 saved. Ignoring any taxes on the purchase, how many more paychecks does she have until she has enough money saved to buy the game system?

Answers

Answer:

3

Step-by-step explanation:

399-360=39

How
Many small circles of radius 7cm
can be got from big
big circle of radius
35cm​

Answers

Answer:

Let get x as a number of small circles.

Area of big circle = Area of all small circles

(Here . implies multiplication)

22/7 . 35 cm .35cm = 22/7 . 7cm .7cm .x

x =  (22/7 . 35 cm .35cm) / (22/7 . 7 cm .7cm)

x = (35 . 35) /(7.7)

x = 25

Step-by-step explanation:

If Figure F is rotated 180° and dilated by a factor of , which new figure could be produced?

Hurry please!

Answers

Answer:

2nd answer choice :)

Step-by-step explanation:

The new figure produced is given below.

Option C is the correct answer.

What is a scale factor?

A scale factor is defined as the ratio between the scale of a given original object and a new object,

We have,

Let the figure be in the first quadrant.

Now,

Rotation of 180-degree means,

The figure will be in the third quadrant.

Now,

Dilation with a factor of 1/2.

This means,

The figure will shrink by 1/2.

Thus,

The new figure is given below.

Learn more about scale factors here:

https://brainly.com/question/20759556

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Can someone please help ?!?

Answers

Answer:

the answer would be D

Step-by-step explanation:

sec = 1/cos

D i hope this is right :)

What is the value of x in the equation –2.4x = 8.4? –20.16 –3.5 3.5 20.16

Answers

Answer: it’s 3.5

Step-by-step explanation:

Find the value of x when 27 - 2x + 1 = 729+ 2x + 3

Answers

Answer:

[tex] - 2x - 2x = 729 + 3 - 27 - 1 \\ [/tex]

[tex] - 4x = 704[/tex]

[tex]x = -704 \div 4 = -176[/tex]

WILL GIVE BRAINLEST !
hAVE A GOOD DAy :)!

Answers

is it all like yes or no or does your teacher need like explaining

The table shows the number of hours spent practicing
singing each week in three samples of 10 randomly
selected chorus members.
Time spent practicing singing each week (hours)
Sample 1 12 13 11 8 9 7 4
8 9 10 Mean = 9.1
Sample 2 7 12 11 8 9 8 12 8 9 10 Mean = 9.4
Sample 3 11 9 8 12 8 10 7 8 7 9 Mean = 8.9
Which statement is most accurate based on the data?
A. A prediction based on the data is reliable, because the means of
the samples are close together.
OB. A prediction based on the data is reliable, because each sample
has 10 data points.
O C. A prediction based on the data is not completely reliable, because
the means are not the same.
D. A ediction based on the data is not completely reliable, because
the means of samples 1 and 2 are greater than 9 and the mean of
sample 3 is less than 9.
PREVIOUS

Answers

Answer:

A prediction based on the data is reliable, because the means of the samples are close together.

Step-by-step explanation:

Test approved

The most accurate statement is A. A prediction based on the data is reliable, because the means of the samples are close together.

What is Mean?

Mean of a set of data is defined as the average of all the values. It gives the exact middle point of the data set.

Given three data sets.

All the samples have 10 data points.

Number of data points = 10

Mean of sample 1 = 9.1

Mean of sample 2 = 9.4

Mean of sample 3 = 8.9

We can see that the mean of the three samples is so close to each other.

So the data is reliable.

Hence the option is A.

Learn more about Reliability of Data here :

https://brainly.com/question/19901862

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Complete the table for the given rule.
Rule: y is 3 less than x
X Y
10
8
6

Answers

Answer:

X Y

10 7

8 5

6 3

Step-by-step explanation:

Not much to explain - just put a number 3 smaller than X into column Y

The required table for the given rule can be completed as follows:

X Y

10 7

8 5

6 3

What is the linear relationship?

A linear relationship is a connection that takes the shape of a straight line on a graph between two distinct variables - x and y. When displaying a linear connection using an equation, the value of y is derived from the value of x, indicating their relationship.

The rule is given in the question, as follows:

y is 3 less than x

For each value of x in the first column, the corresponding value of y in the second column can be calculated by subtracting 3 from x.

For example, if x is 10, then y is 3 less than x, which is 7 (10 - 3 = 7).

Similarly, if x is 8, then y is 5 (8 - 3 = 5), and if x is 6, then y is 3 (6 - 3 = 3).

The table for the given rule can be completed as follows:

X Y

10 7

8 5

6 3

Learn about the linear relationship here :

https://brainly.com/question/11663530

#SPJ5

Need help on this please

Answers

y-y_o= m(x-x_0)
y-(-4)=-(x-0)
y+4=-x
y=-x-4

Hope it helps

1.What is a tautology?

Answers

Answer:

the saying of the same thing twice in different words, generally considered to be a fault of style (e.g., they arrived one after the other in succession ).

the saying of the same thing twice in different words, generally considered to be a fault of style (e.g., they arrived one after the other in succession ).

How do I do a fraction number line

Answers

A.)
1. 2/5 5/5
2. 2/11 5/11 7/11 8/11 9/11
3. 0 3/8 6/& 7/8
B.)
1. U = 7/9 V = 6/9 W = 3/9
2. B = 1/10 A = 5/10 C = 9/10
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