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2 years ago

jay discounts a 100-day note for $25,000 at 13%. the effective rate of interest to the nearest hundredth percent is what %

1 answer:

4 0

Effective interest is computed using the formula below:
Effective interest = e^i-1
where
i = stated loan interest= 13%
substitute the given values and we will get
Effective interest = 13.88%
The effective interest of the 100-day note that Jay discounted is equal to 13.88%

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Write the equation of a line that is perpendicular to y = 5 y=5y, equals, 5 and that passes through the point ( − 7 , − 5 ) (−7,

Jlenok [28]

The line of the equation perpendicular to y=5 and cuts through (-5,-7) will be given by
m(x-x1)=y-y1
where m=slope.
from y=0x+5, the slope of the perpendicular line m=0,
thus the equation will be:
0(x--5)=y--7
0=y+7
y=-7
The equation is y=-7

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2 years ago

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Darren invests $4,500 into an account that earns 5% annual interests. How much will be in the account after 10 years if the inte

xz_007 [3.2K]

We have been given that Darren invests $4,500 into an account that earns 5% annual interests. We are asked to find the amount in his account after 10 years, if the interest rate is compounded annually, quarterly, monthly, or daily.

We will use compound interest formula to solve our given problem.

$A=P(1+\frac{r}{n})^{nt}$ , where,

A = Final amount,

P = Principal amount,

r = Annual interest rate in decimal form,

n = Number of times interest is compounded per year,

t = Time in years.

$5\%=\frac{5}{100}=0.05$

When compounded annually, $n=1$ :

$A=4500(1+\frac{0.05}{1})^{1\cdot 10}$

$A=4500(1.05)^{10}$

$A=4500(1.6288946267774414)$

$A=7330.025820498\approx 7330.03$

When compounded quarterly, $n=4$ :

$A=4500(1+\frac{0.05}{4})^{4\cdot 10}$

$A=4500(1.0125)^{40}$

$A=4500(1.6436194634870132)$

$A=7396.28758569\approx 7396.29$

When compounded monthly, $n=12$ :

$A=4500(1+\frac{0.05}{12})^{12\cdot 10}$

$A=4500(1.00416666)^{120}$

$A=4500(1.64700949769)$

$A=7411.542739605\approx 7411.54$

When compounded daily, $n=365$ :

$A=4500(1+\frac{0.05}{365})^{365\cdot 10}$

$A=4500(1.0001369863013699)^{3650}$

$A=4500(1.6486648137656943695)$

$A=7418.9916619456\approx 7419.00$

Since amount earned will be maximum, when interest is compounded daily, therefore, Darren should use compounded daily interest rate.

4 0

2 years ago

Please help ASAP. Quadrilateral CDEF is inscribed in circle A. If the m∠C = 7x + 11° and m∠E = 7x + 1°, what is the measure of ∠

RSB [31]

Answer:

The answer is D

Step-by-step explanation:

∠C + ∠E = 180°(consecutive angles)

7x +11° + 7x + 1° = 180°

14x + 12° = 180°

14x = 168°

x = 12°

∠E = 7x + 1°

= 7(12°) + 1

= 85°

5 0

2 years ago

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Ivan found the change in a scale factor. His work is shown below. What error did Ivan make?

Tresset [83]

Scale factor is:
factor = (new length) / (old length)
Ivan correctly inserted numbers and correctly divided these two numbers by 5.

There is no error in the shown picture.

5 0

2 years ago

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An insurance company reported that, on average, claims for a certain medical procedure are $942. An independent organization con

kirza4 [7]

Answer:

Step-by-step explanation:

The question is incomplete. The complete question is:

An insurance company reported that, on average claims for a certain medical procedure are $942. an independent organization constructed a 95% confidence interval of ($930, $950) for the average amount claimed for the particular medical procedure. what conclusion best evaluates the truthfulness of the number reported by the insurance company?

a) with 95% certainty, the average claim for this medical procedure is $942.

b) with 95% certainty, the average claim for this medical procedure is not $942.

c) the confidence interval is consistent with an average claim of $942 for this medical procedure

Solution:

Confidence interval is used to express how confident we are that the population parameter that we are looking for is contained in a range of given values. Looking at the given confident interval, the lower limit is $930 and the upper limit is $950. We can see that the population mean, $942 lies within these values. The correct option would be

c) the confidence interval is consistent with an average claim of $942 for this medical procedure

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2 years ago