The total value of an investment was $305.33 after $240 was invested for 10 years compounded monthly. Find the interest interest rate.

Answers

Answer 1

Answer:

Interest rate = 2.41%

Step-by-step explanation:

The total value of an investment was $305.33 after $240 was invested for 10 years compounded monthly. Find the interest rate.

The formula to calculate the Interest rate for a Compound Interest is given as:

Solving for rate r as a decimal

r = n[(A/P)^1/nt - 1]

r = 12 × [(305.33/240.00)^1/(12)(10) - 1]

r = 0.0240996

Then convert r to R as a percentage

R = r * 100

R = 0.0240996 * 100

R = 2.41%/year

Therefore, the Interest rate = 2.41%


Related Questions

What is the value of the expression 4(x - y) + 2 when x = 7 and y = 1?

Answers

Answer:

26

Step-by-step explanation:

4(7-1) +2

4(6) + 2

24+ 2

26

Answer: 26

Step-by-step explanation:

4(x-y)+2

Lets plug in 7 for x and 1 for y

4(7-1)+2=4(6)+2

4*6=24

24+2=26

26 is the answer

write in slope intercept form: 4x-5y= -20

Answers

Step-by-step explanation:

4x - 5y = -20

-5y = -4x -20

y = 4/5x + 4

the answer is y= 4/5x + 4

Sine is positive in which of the following quadrants?
A. I and III
B. I and IV
C. T and II
D. II and III

Answers

Answer:

C. I and II

Step-by-step explanation:

In q1, all trig functions are positive. q2, sin and csc is positve. hope this helps!!

Is this right? Please help me

Answers

Answer:

Yes.

Step-by-step explanation:

Every tenth is equal to ten one-hundreths/10%. So, since 0.2 is essentially a different way to write 20%, 20% of customers wanted cheese and no chili.

Taylor had a bag of 28 marbles. 5 red, 9 blue, 8 yellow, and 6 black. If Taylor pulled out a yellow one and DID NOT put it back in. What is the
probability of pulling out a blue marble (SIMPLIFY YOUR FRACTION).
Blank 1:
Blank 2:

Answers

Answer: 1/3

Step-by-step explanation:

Number of red marbles = 5

Number of blue marbles = 9

Number of yellow marbles = 8

Number of and black marbles = 6

Total number of marbles = 28

If Taylor pulled out a yellow one and didn't replce it, there'll be 27 marbles left since one has been removed, then the probability of picking blue marbles will be:

= Number of blue marbles / Total marbles

= 9 / 27

= 1/3

The probability of picking a blue marble is 1/3.

what's the area of the circle

Answers

Answer:

3.14

Step-by-step explanation:

- 16 – - 22,what is the difference

Answers

the answer is 6 ..........

Answer is 6.

Explaination:

When subtracting a negative number, the number becomes positive and the minus sign to a plus sign.

A trader bought 12 shirts for $150 altogether. He sold 11 of them for $20 each and one for $10.
Work out his overall percentage profit or loss,

Answers

Answer:

53%

Step-by-step explananation:

how much did he sell them for?

11*20 = 220

220+10 = 230

so he got a total of 230 off of buying 150

percent is difference of original

(230-150)/150

80/150

about 53%

I think this is right

can someone please help me asap ill give extra brainly points!!!

Answers

95.20 is the answer

Answer:

94.20 yds

Step-by-step explanation:

C = 2 pi r

     2 pi (15) = 94.20 yds

GIVING BRAINLIEST AND THE REST OF MY POINTS! PLS HELP :((

Answers

1. Rhombus
2 trapezoid
3 rhombus
4 square
5 rectangle

If 3x – 2 (2 + 1) = 4, then 5x =?

Answers

Answer:

50/3

Step-by-step explanation:

For x

3x-2(2+1)=4

3x-2(3)=4

3x-6=4

3x=4+6

3x=10

x=10/3

 as we have to find 5x=?

    5(10/3)

50/3

Dishwasher detergent is sold in individual packs is sold in 20, 60 and 90 pack containers which container do you think has the lowest unit rate of dollars per pack and why

Answers

Answer:

I think 90

Step-by-step explanation:

Would help if you provided more information

I believe 90, not sure though

What's the surface area if the radius of a cylinder is 6 and the height is 10 in ?

Answers

Answer:

A≈603.19in²

Step-by-step explanation:

sorry if it's wrong

Answer:

603.19

Step-by-step explanation:

The frequency,f kilohertz of a radio wave is inversely proportional to its wavelength, Ym. The frequency of a radio wave that has a wavelength of 3000m is 100 kHz. Find (i) The frequency of a radio wave that has a length of 500m (ii) The wavelength of a radio wave that has a frequency of 800kHz

Answers

Step-by-step explanation:

The frequency of a radio wave that has a wavelength of 3000m is 100 kHz

(a) Wavelength = 500 m

We know that,

[tex]f=\dfrac{c}{\lambda}\\\\f=\dfrac{3\times 10^8}{500}\\\\f=600\ kHz[/tex]

(b) Frequency, f = 800 kHz

[tex]\lambda=\dfrac{c}{f}\\\\\lambda=\dfrac{3\times 10^8}{800\times 10^3}\\\\\lambda=375\ m[/tex]

Hence, this is the required solution.

A café has a monthly fixed cost of $4700, and a typical customer order costs the café $2. Therefore, the cost to serve x customers in a month is given by x = 4,700 + 2x. The typical order costs $10. So revenue is y = 10x. Find the number of customers that would need to come in the café for the company to break even. (Intersection point)

Answers

Answer:

The number of customers that would need to come in the café for the company to break even is 470.

Step-by-step explanation:

Given

Revenue = y = 10x ……………….…. (1)

Cost = x = 4,700 + 2x ……………… (2)

Since the company will break even when Revenue is equal to Cost, we therefore equate equations (1) and (2) and then solve for x as follows:

10x = 4,700 + 2x

10x - 2x = 4,700

x = 4,700 / 10

x = 470

Therefore, the number of customers that would need to come in the café for the company to break even is 470.

3x-5>-41
Solving inequality

Answers

Answer:

x [tex]\geq 11[/tex]

Step-by-step explanation:

x can equal anything -11 and above

Sherry and Karl both started their hike with a small bottle filled with water. Tia started her hike with a larger that was 1/2 full. At the end of the hike, Sherry and Tia’s bottles were each half filled with water. Karl’s bottle was filled 1/3 filled with water. Who has the most water left? Construct a math argument to support your answer.

Answers

Answer:

The person with the most water left is;

Tia

Step-by-step explanation:

The parameters given in the question are;

The volume of water Sherry and Karl both started their hike with = 1 small bottle each

The volume of water Tia started her hike with = 1/2 of a larger bottle of water

The volume of water Sherry had at the end of the hike = 1/2 of the small bottle of water

The volume of water Tia had at the end of the hike = 1/2 of the large bottle of water

The volume of water Karl had at the end of the hike = 1/3 of the small bottle of water

Let 'x' and 'y' represent the sizes of the bottles of water with Sherry and Karl  respectively and let 'Z' represent the size of the bottle of water Tia started the hike with, we have;

The volume water with Tia at the end of the hike = 1/2·x

The volume water with Karl at the end of the hike = 1/2·y

The volume water with Tia at the end of the hike = 1/2·Z

Given;

Z > x

Z > y

∴ 1/2·Z > 1/2·x

1/2·Z > 1/3·y

Therefore, Tia with half of the larger bottle of water at the end of the hike, 1/2·Z has the most water left.


The interior angle of a regular polygon is 156º. Find the number of sides of the polygon.​

Answers

Answer:

15

Step-by-step explanation:

n = 15 sides. Therefore ,The polygon with each interior angle 156° has 15 sides.

A rectangular blanket is 4 times as long as it is wide. Its width is 8 yards. What is the area of the blanket?​

Answers

Answer:

The area is 256

Step-by-step explanation:

A spinner has 20 equal-sized sections. Two of the sections are blue. a. What is the probability that the spinner will land on blue? b. Use words to describe the probability.

Answers

Answer:

a. 2/20 or 10%

b. Theoretically 2 out of every 20 times the spinner is spun, it will be blue.

Step-by-step explanation:

Could someone give me the answer to this question

Answers

What question are you talking about? I don’t see anything

A gaming PC valued at $2500 depreciates at a rate of 12.5% per year.

Write a function that models the value of the computer over time.

Find the value of the PC after 3 year.

Answers

Answer:

v=2500-312.5x, after 3 years its worth 1562.5$

Step-by-step explanation:

What is 6/8+ 4/2-3/6?

Answers

Answer:

the answer is 2.25

Step-by-step explanation:

Answer:

2.25

Step-by-step explanation:

i need help with this​

Answers

Answer:

1) 0.04, 3.6

2) 0.35, 49

Step-by-step explanation:

Answer:

1. 90x0.04= 3.6

2. 140x0.35=49

Step-by-step explanation:

convert to decimal to calculate the percent.


What is 52% of 25? i got 13 is that correct??

Answers

Answer:

Yes that is correct

Step-by-step explanation:

52  x 25 = 1,300

1300/ 100= 13

Help! Pls answer correctly!​

Answers

Answer:

numbers of Ostrich he keep = 725

Step-by-step explanation:

Area of field = 30 × 155 + 90 × 45Area of field = 4650 + 4050Area of field = 8700 m²

1 ostrich need = 12 m²

numbers of Ostrich = 8700 ÷ 12

numbers of Ostrich = 725

PLEASE ANSWER WILL GIVE BRAINLIEST

50 POINTS

approximate the solutions to this system.

y = 3x2 + x − 6

y = x − 4

Round your answers to the nearest hundredth.

Answers

Answer:

Its actually y=-4.82 but ok

Step-by-step explanation:

What is the equation of the given line?

Answers

Answer:

y=0x+5

Step-by-step explanation:

Answer:

2,2gggffgigzrfgcf gg cyg

What is a prime number easy definition?

Answers

Prime numbers are numbers that have only 2 factors: 1 and themselves.

need help with this !!!

Answers

Answer:

(5,20)

Step-by-step explanation:

solve for the first variable in one of the equations
x = 5
y = 20
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