The required interestpaid by Barry is given as, $22.5.
Given that,
Barry wants to take out a loan from his bank for $1000 to buy a bicycle the interest rate on the loan from the bank is 9% he wants to pay the toll amount in three monthly payments what is the amount that varies with pay in interest rate loan is to be determined.
Simpleinterest is defined as the percentage of earnings on the lending for a period of time
Here,
Principal = 1000
Rate = 9%
Time = 3 / 12 = 0.25 years
So,
Interest = Principal × rate × time
interest = 1000 × 0.09 × 0.25
Interest = $22.5
Thus, the required interestpaid by Barry is given as, $22.5.
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Answer:
22.50
Step-by-step explanation:
formula I=prt
I=1000x0.09x.25
I=22.50
The balance of Albert is $2159.07; the balance of Marie is $2244.99, the balance of Hans is $2188.35, and the balance of Max is $2147.40. Marie is $10,000 richer at the end of the competition.
Compound interest is defined as interest paid on the original principal and the interest earned on the interest of the principal.
To determine the balance of Albert’s $2000 after 10 years :
If the amount of $1000 at 1.2 % compounded monthly,
A = P(1 +r/n)ⁿ n = 10 years
here P = $1000 and r = 1.2
A = 1000(1 + 0.001)¹²⁰
A = $1127.43
If Albert $500 losing 2%
So 0.98 × 500 = $490
If $500 compounded continuously at 0.8%
So A = P
A = 500
A = 541.6
So the balance of Albert’s $2000 after 10 years :
Total balance = 1127.43 + 490.00+ 541.64 = $2159.07
To determine the balance of Marie’s $2000 after 10 years:
If 1500 at 1.4 % compounded quarterly,
A = 1500(1 + 0.0035)⁴⁰ = $1724.99
If $500 Marie’s gaining 4 %
So 1.04 × 500 = $520.00
So the balance of Marie’s $2000 after 10 years
Total balance = 1724.99 + 520.00 = $2244.99
To determine the balance of Hans’ $2000 after 10 years:
If $2000 compounded continuously at 0.9%
So A = 2000
A = $2188.3
To determine the balance of Max’s $2000 after 10 years :
If $1000 decreasing exponentially at 0.5 % annually
So A = 1000(1 - 0.005)¹⁰= $951.11
If $1000 at 1.8 % compounded bi-annually
So A = 1000(1 + 0.009)²⁰ = $1196.29
So the balance of Max’s $2000 after 10 years
Total balance = 951.11 + 1196.29 = $2147.40
Therefore, Marie is $10,000 richer at the end of the competition.
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Answer:
Step-by-step explanation:
Albert:
$1000 earned 1.2% annual interest compounded monthly
= 1000 (1+.001)120
(periodic interest = .012/12 ,n is periods = 10yr x 12 mos)
$500 lost 2% over the course of the 10 years
= 500 (.98)
$500 grew compounded continuously at rate of 0.8% annually
= 500 e^008(10) 10 years interest .008 (in decimal form)
Add these three to see how Albert did with his investments
Answer:
So, we can do it in 720 ways.
Step-by-step explanation:
We have been given total of six trophies to arrange in the top shelf of the bookcase
If we need to arrange n things in different ways we can do it in n! ways
Similarly, Here we will do it in 6! ways
n!=n(n-1)(n-2).....1
So, 6!=6 x 5 x 4 x 3 x 2 x 1=720