You deposit $10,000 in an account that pays 4.5% interest compounded quarterly. Using the future value $10,457.65, what is the interest rate if simple interest was used? (I am struggling with formulas)​

Answers

Answer 1

9514 1404 393

Answer:

  4.5765%

Step-by-step explanation:

Apparently, you have to figure out how long it would take to accumulate a balance of $10,457.65 with interest compounded, then use that time period to compute the equivalent simple interest rate. The relevant formulas are ...

  A = P(1 +r/n)^(nt) . . . . amount of P at rate r compounded n times per year for t years

  A = P(1 +rt) . . . . amount of P at rate r simple interest for t years

We need to use the first formula to find t, then use the second formula to find r. In both cases A=10457.65 and P=10000. Quarterly compounding means n=4. The interest rate is r=0.045 for the first formula.

Looking for t:

  A/P = (1 +r/n)^(nt) . . . . . . . . . . divide by P

  log(A/P) = nt·log(1 +r/n) . . . . . take logs

  t = log(A/P)/(n·log(1 +r/n)) . . . divide by the coefficient of t

Filling in the given values, we find t to be ...

  t = log(10457.65/10000)/(4·log(1 +0.045/4)) = 0.999998 ≈ 1.0

The compound interest is applied for 1 year (t=1), so now we can find r using the second formula.

  A = P(1 +rt)

  A/P -1 = rt

Filling in the known values, we have ...

  1.045765 -1 = r = 0.045765 = 4.5765%

The equivalent simple interest rate on the deposit is 4.5765%.


Related Questions

Why should people conserve energy? (Please don’t get the answer form the internet)

Answers

People should conserve energy because it produces a higher quality of life. Reduced emissions result in cleaner air quality. It also helps create a healthier planet and helps sustain resources we have.

What does the digit 8 represent in 687,413?
Eight hundred thousand
Eight thousand
Eight hundred
O Eighty thousand

Answers

Answer:

Eighty thousand

Step-by-step explanation:

Look at the place value chart.

What's the answer to this? and please explain.

Answers

Answer: No, there isn't enough ribbon

===========================================================

Use this formula

a & b/c = (a*c+b)/c

to convert from a mixed number to an improper fraction

So,

a & b/c = (a*c+b)/c

3 & 3/4 = (3*4+3)/4

3 & 3/4 = 15/4

---------------------------------------------------

Next, we add the fractions 15/4 and 5/6. The denominators aren't the same, so we can't add right away. We need to get the denominators to the LCD.

In this case, the LCD is 4*6 = 24

The fraction 15/4 becomes 90/24 after multiplying top and bottom by 6.The fraction 5/6 becomes 20/24 after multiplying top and bottom by 4

Now we can add the fractions:

90/24+20/24 = (90+20)/24 = 110/24

---------------------------------------------------

So far, we've added the 3&3/4 portion to the 5/6 portion to get the result 110/24

The last thing to do is to add on the two 1/3 ft pieces, which means we're adding on 2/3 of a foot

2/3 = 16/24 after multiplying top and bottom by 8

Add this to the result of the last section

110/24+16/24 = (110+16)/24 = 126/24

---------------------------------------------------

From here, we convert the improper fraction 126/24 to decimal form

Using a calculator, you should find that 126/24 = 5.25

The result is larger than 5, which means she used too much ribbon. There won't be enough ribbon to do everything she wants to do.

---------------------------------------------------

The shortcut we can take is to type the following into the calculator

3+3/4+5/6+2/3

doing so should lead to 5.25

Answer:

Yes

Step-by-step explanation:

So at the begining, Cherly has 60 in (12inx5ft) of ribbon. She uses 45 in(3.75x12) to make the hair bow, leaving 15 in of ribbon. She, then, uses 10 in (5/6x12) of ribbon, leaving 5 in. After that, Cheryl uses 8 in [2(1/3x12)] to put on the picture frame, leaving two inches of ribbon.

Một người gửi tiết kiệm tại ngân hàng một số tiền là 120 triệu đồng vào đầu mỗi năm theo thể thức lãi kép kỳ hạn một năm với lãi suất cố định 6,5%/ năm.
a) Hỏi sau 3 năm, số tiền gốc cộng lãi mà người đó nhận được là bao nhiêu ?
b) Hỏi sau bao nhiêu năm thì tổng số tiền nhận được lần đầu vượt quá 1,1 tỷ đồng.

Answers

Answer: lil t j

Step-by-step explanation:

I’m not a goat but I fit the description we walk around with then bands in my pocket

PLS HELP! I NEED TO FIND THE SURFACE AREA OF THIS CYLINDER!

PLS PROVIDE A STEP BY STEP EXPLANATION! ❤️

Answers

..........................................

How would I solve this?

Answers

Answer:

20°

Step-by-step explanation:

perpendicular from the center on a chord of a circle always bisects the chord.

AR=BR

∴m arcAC=m arc BC=20°

if you are just given the two points it is the same formula. Find the midpoint between the points (4,−5) and (−4,5).

Answers

Answer:

[tex]M = (0,0)[/tex]

Step-by-step explanation:

Given

[tex](4,-5)[/tex] and [tex](-4,5)[/tex]

Required

The midpoint (M)

This is calculated as:

[tex]M = \frac{1}{2}(x_1 + x_2,y_1+y_2)[/tex]

So, we have:

[tex]M = \frac{1}{2}(4-4,-5+5)[/tex]

[tex]M = \frac{1}{2}(0,0)[/tex]

[tex]M = (0,0)[/tex]

please help me Solve the following equations simultaneously:
solve for x and y

x+3y =6 and 2x+8y=-12​

Answers

Answer:

x+3y =6

2x+8y=-12​

The solutions to your equations are:

x= 42 and y= -12

lets check this

42+-36 =6

84+-96=-12​

Hope This Helps!!!

You can afford a $1050 per month mortgage payment. You've found a 30 year loan at 7% interest.
a) How big of a loan can you afford? Round your answer to the nearest dollar.
S
b) How much total money will you pay the loan company? Round your answer to the
nearest dollar.
C) How much of that money is interest? Round your answer to the nearest dollar.
S
Question Help: D Postito forum
Submit Question

Answers

9514 1404 393

Answer:

loan: $157,823repaid: $378,000interest: $220,177

Step-by-step explanation:

For a loan value of 1, the monthly payment on a 30 year loan at 7% is ...

  A = (0.07/12)/(1 -(1 +0.07/12)^(-12·30)) ≈ 0.00665302495

Then the amount repaid after 360 payments is ...

  360A = 2.39508898 . . . times the principal amount

__

a) For a monthly payment of $1050, the principal can be ...

  $1050/0.00665302495 ≈ $157,823

__

b) The amount repaid to the loan company is ...

  $157,823×2.39508898 ≈ $378,000

__

c) The amount that is interest is ...

  $378,000 -157,823 = $220,177

when is 9+10 really equal to 21

Answers

Answer:

9 + 10 = 21

Step-by-step explanation:

9 + 10 = 21

Factor out 9 and 10

9 = 3 · 3   10 = 2 · 5

Next multiply 3 by 2

3 × 2 = 6

Then multiply 3 by 5

3 · 5 = 15

Finally add the products

15 + 6 = 21

It can never be equal to 21 because that’s not how math works

PROBIBILITY HELP ME PLZ Mike is playing a game where a ball is hidden under one of 5 cups. Mike guesses which cup contains the ball 20 times and chooses correctly 6 times. Mike wants to simulate the game to determine if his results are the same as what would be expected by random chance.

Answers

Answer:

Choose 1 ball from a bag with 1 red ball and 4 white balls. Record the color, replace the ball and repeat the experiment 20 times.

Step-by-step explanation:

Given

[tex]Cups = 5[/tex]

[tex]Ball=1[/tex]

[tex]Trials = 20[/tex]

See attachment

Required

Simulate the above experiment (fill in the gaps)

The probability of choosing a ball correctly in each trial are independent, and each probability is calculated as:

[tex]P(Correct) = \frac{Ball}{Cups}[/tex]

This gives:

[tex]P(Correct) = \frac{1}{5}[/tex]

The number of times (i.e. 6) he chose correctly is not a factor in his simulation

So, a correct simulation of the experiment is as follows:

Choose 1 ball from a bag with 1 red ball and 4 white balls. Record the color, replace the ball and repeat the experiment 20 times.

The selected ball represents the number of balls hidden (i.e. 1 ball).

The total number of balls (5 balls; i.e. 1 red and 4 white) represent the number of cups (5 cups)

The 20 times represent the number of times the experiment is repeated.

Jayden drives 22.5 miles in 30 minutes. If he drove one hour in total at the same rate, how far did he go? Before you try that problem, answer the question below. How many minutes did Jayden drive in total?

how far did he go in minutes?​

Answers

Answer:

45 miles in 1 hour

Step-by-step explanation:

1 hour is 60 minutes

22.5 miles / 30 minutes  * 2/2 = 45 miles / 60 minutes = 45 miles in 1 hour

Answer:

He drove 22.5 miles in 60 min. He drove 45 miles in 1 hour

Step-by-step explanation:

22.5 miles in 30 min

1 hour= 60 min

30+30=60

22.5+22.5=45 miles

In what time will #250 gain #120 at 2%​

Answers

Answer: 24 years

Step-by-step explanation:

Based on the information given, we've been given,

Principal = #250

Interest = #120

Interest rate = 2%

Time = Unknown

Interest = PRT/100

120 = (250 × 2 × Time)

Cross multiply

120 × 100 = (250 × 2 × T)

12000 = 500T

Time = 12000/500

Time = 24

It will take 24 years.

A company manufactures two products. Market research and available resources require the following
constraints:

• The number of units of product A manufactured, 2, is at most 500 units more than twice the number
of units of product B. y.

• The square of the company's profit is equal to the sum of 35 times the number of product A units
sold and 50 times the number of product B units sold.

If the company expects weekly profits to exceed $22,500, which pair of inequalities represents these
constraints?

will give brainliest + 50 points :)

Answers

The inequalities that represent these constraints are x ≤ 500 + 2y and 35x + 50y > 22500²

What is an equation?

An equation is an expression that shows the relationship between two or more numbers and variables.

Let x represent the number of product A and y represent the number of product B, hence:

x ≤ 500 + 2y        (1)

Also:

35x + 50y > 22500²    (2)

The inequalities that represent these constraints are x ≤ 500 + 2y and 35x + 50y > 22500²

Find out more on equation at: https://brainly.com/question/2972832

#SPJ2

Teresa is making iced tea. She has a container that has a volume of 3.95 gallons to store the iced tea.

Answers

is that the whole question?-

Which is an x-intercept of the continuous function in the
table?
-2
-1
0
1
2
3
f(x)
-10
48
46
44
-2
0
(0, -6)
(3.0)
O (-6.0)
(0, 3)

Answers

Answer:

The x-intercept is the value of the variable x when the value of the function is equal to zero

so

In the table we have

(-1, 0)(−1,0) is a x-intercept, because

For x=-1x=−1 the value of the function is equal to zero

(-6, 0)(−6,0) is a x-intercept, because

For x=-6x=−6 the value of the function is equal to zero

therefore

the answer is

the continuous function in the table has two x-intercepts

(-1, 0)(−1,0)

(-6, 0)(−6,0)

What is 2 3 of 99kg?

Answers

Step-by-step explanation:

[tex] \frac{2}{3} \times \frac{99}{1} = 66 \: kg[/tex]

Which equation can be simplified to find the inverse of y = 2x2

Answers

Answer: d

Step-by-step explanation:

edge 2020

To complete a task in 30 days a company needs
4 people each working for 7 hours per day.
The company decides to have
5 people each working for 6 hours per day.
Assuming that each person works at the same rate,
how many days will the task take to complete?

Answers

Answer:

28 days

Step-by-step explanation:

4 x 7 x 30= 840 total working hours

5 x 6 x n = 840

= n = 840 ÷ 30

= n = 28 days

The task will take approximately 1 day to complete with 5 people working for 6 hours per day.

Determining the time to complete the task

Total work done in the first scenario = 4 × 7 × 30

= 840 work hours

Total work done in the second scenario = (5 × 6 × D)

= 4 × 7 × 30

Solving for D:

30D = (4 × 7 × 30) / (5 × 6)

D = (4 × 7) / (5 × 6)

D = 28 / 30

D ≈ 0.9333

Rounding up to the nearest whole day, D = 1

Therefore, the task will take approximately 1 day to complete with 5 people working for 6 hours per day.

Learn more on time calculation here https://brainly.com/question/26046491

8x – 3y = 1
–2x + 3y = 11
Solve a Linear System by Elimination

Answers

i think it’s x= 2 but i would check that

Find the area and circumference of each circle

Answers

Answer:

Step-by-step explanation:

Area = [tex]Area = \pi r^2 = \pi(3)^2 = 9\pi = 28.27\\Circumference = 2\pi r = 2\pi 3 = 6\pi = 18.85[/tex]

Answer:

[tex]area = 28.27 {m}^{2} \\ c = 18.84m[/tex]

Explanation is attached to the picture

Hope this helps you.

Consider all four-digit numbers that can be made from the digits 0-8 (assume that numbers cannot start with 0). What is the probability of choosing a random number from this group that is less than or equal to 4000

Answers

Answer:

The probability is:

P = 0.375

Step-by-step explanation:

First, we need to find the total number of four-digit numbers that can be made with the digits 0-8, such that the first digit can not be zero.

To do this, we first need to find the number of selections that we have, in this case, there are 4, one for each digit in our 4-digit number.

Now let's count the number of options that we have for each one of these selections:

first digit: we have 8 options (because the 0 can not be here)

second digit: we have 9 options (because now the zero can be taken)

third digit: we have 9 options

fourth digit: we have 9 options.

The total number of combinations is equal to the product of all the numbers of options, this is:

C = 8*9*9*9 = 5,832

Now we need to find how many of these are less or equal than 4000.

So now let's count the options again:

first digit: 3 options {1, 2, 3}

second digit: 9 options

third digit: 9 option

fourth digit: 9 options

Total number of combinations:

C' = 3*9*9*9 = 2,187

Here we should also count the combination for the number 4000 itself, as it was not counted in our previous calculation, then we have:

C' = 2,187 + 1 = 2,188 combinations.

The probability of randomly choosing a number that is smaller than or equal to 4000 will be equal to the quotient between the number of combinations that are smaller than or equal to 4000 (2,188 combinations) and the total number of combinations (5,832)

this is:

P = 2,188/5,832 = 0.375

Help please. Thank you

Answers

9514 1404 393

Answer:

  (x, y) = (1, -3)

Step-by-step explanation:

The x-term has a coefficient of 1 in the first equation, making it easy to write and expression that can be substituted for x:

  x = -3y -8

Using this in the second equation, we have ...

  4(-3y -8) -3y = 13

  -15y -32 = 13

  -45 = 15y

  -3 = y

Then the value of x is ...

  x = -3(-3) -8 = 1

The solution is (x, y) = (1, -3).

7 - 9m = 11
explain step by step​

Answers

Answer:

[tex]m=-\frac{4}{9}[/tex]

Step-by-step explanation:

Given:

[tex]7-9m=11[/tex]

Subtract 7 from both sides

[tex]-9m=4[/tex]

Divide both sides by -9 to get m alone

[tex]m=-\frac{4}{9}[/tex]

Hope this is helpful

Solve
[tex](6+v)(5v+4)=0[/tex]

Answers

Answer:

v = -6       v = -4/5

Step-by-step explanation:

(6+v) ( 5v+4) = 0

Using the zero product property

6+v =0  5v+4 =0

v = -6      5v = -4

v = -6       v = -4/5

The rectangular ground floor of a building has a perimeter of 780 ft. The length is 200 ft more than the width. Find the length and the width.
The length is ___ and the width is ___

Answers

Answer:

L = 295ft

W = 95ft

Step-by-step explanation:

Perimeter of a rectangle = 2(L+W)

If the length is 200 ft more than the width, then:

L = 200+W

Substitute

P = 2(200+W+W)

780 = 2(200+2W)

780 = 400+4W

4W = 780-400

4w = 380

W = 380/4

W = 95ft

Since L = 200+w

L = 200+95

L = 295ft

A payday loan company charges a $90 fee for a $500 payday loan that will be repaid in 16 days.

Treating the fee as interest paid, what is the equivalent annual interest rate?

Answers

Answer:

Kindly check explanation

Step-by-step explanation:

Given :

Interest amount paid on loan = $90

Principal value, amount borrowed = $500

Period, t = 16 days

The equivalent annual interest :

Using the simple interest formula :

simple interest = principal * rate * time

Using, days of year = 365

Plugging in the values into the formula :

90 = 500 * rate * (16/365)

90 = 500 * rate * 0.0438356

90 = 21.917808 * rate

Rate = 90 / 21.917808

Rate = 4.10 = 4.10 * 100% = 410%

If days of year = 360 is used :

90 = 500 * rate * (16/360)

Rate = 90 / 22.222

Rate = 4.05 = 4.105 * 100% = 405%

Type the correct answer in each box. Functions h and K are inverse functions, and both are defined for all real numbers Using this relationship, what is the value of each function composition?
(h o k) (3)=
(k o h)(-4b) =​

Answers

Answer:

(h o k) (3) = 3

(k o h) (-4b) = -4b

Step-by-step explanation:

An inverse function is the opposite of a function. An easy way to find inverse functions is to treat the evaluator like another variable, then solve for the input variable in terms of the evaluator. One property of inverse functions is that when one finds the composition of inverse functions, the result is the input value, no matter the order in which one uses the functions in the combination. This is because all terms in a function and their inverse cancel each other and the result is the input. Thus, when one multiplies two functions that are inverse of each other, no matter the input, the output will always be the input value.

This holds true in this case, it is given that (h) and (k) are inverses. While one is not given the actual function, one knows that the composition of the functions (h) and (k) will result in the input variable. Therefore, even though different numbers are being evaluated in the composition, the output will always be the input.

Lillia total saving y in dollars is given by the equation y= 10 x where x is the number of week

Answers

Answer:

$50 dollars saved

Step-by-step explanation:

Given

[tex]y = 10x[/tex]

Required

The amount saved after 5 weeks

We have:

[tex]y = 10x[/tex]

Substitute 5 for x

[tex]y = 10*5[/tex]

[tex]y = 50[/tex]

A band played an encore at 2 of its last 4 shows. Considering this data, how many of the
band's next 14 shows would you expect to have an encore?
shows

Answers

The answer is 7 hope this helps

The number of times that the band played an encore at 7 out of the next 14 shows.

What is Algebra?

Algebra is the study of abstract symbols, while logic is the manipulation of all those ideas.

The band should do an encore at a rate of 2 out of every 4 gigs, or 2/4 = 1/2 shows, according to the available statistics.

We may use the following percentage to determine how many of the following 14 performances will likely have an encore:

1/2 = x/14

14 = 2x

x = 7

Therefore, we can expect the band to play an encore at 7 out of the next 14 shows.

More about the Algebra link is given below.

https://brainly.com/question/953809

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