MATHEMATICS HIGH SCHOOL

Kayla currently has an account balance of $2,134.96. She opened the account 12 years ago with a deposit of $1,327.35. If the interest compounds twice a month, what is the interest rate on the account?

Answers

Answer 1

Answer:

Interest rate is 1.728%

Step-by-step explanation:

Here, we are interested in calculating the monthly interest rate on an account.

Mathematically;

The compound interest formula amount is given as;

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

where A is the amount at the end of the compounding = $2,134.96

P is the principal which is the amount deposited = $1,327.35

r is the rate which we want to calculate

n is the number of times per year it is compounded = (2 * 12) = 24 ( twice monthly)

t is the number of years = 12

2,134.96 = 1327.35( 1 + r/24)^(24 * 12)

divide both sides by 1327.35

1.608 = (1 + r/24)^288

Take the ln of both sides

ln 1.608 = ln ( 1 + r/24)^288

ln 1.608 = 288 ln (1 + r/24)

0.21 = 288 ln ( 1 + r/24)

Divide both sides by 288

0.00072 = ln (1 + r/24)

1.000716527571 = 1 + r/24

r/24 = 0.00072

r = 24 * 0.00072

r = 0.01728

which is same as 1.728%

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Answers

The first place and 15th place are already decided, so we have to find the number of different ways that the other 13 students can line up, in the places from 2 to 14.

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3rd place can be any one of 12 people. For each of those . . .

4th place can be any one of 11 people. For each of those

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Total number of ways that 13 students can line up in places 2 through 14 is

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Answer:

13!

Step-by-step explanation:

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Answers

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Answers

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Answers

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Equating (1) and (2), we have that
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This is the graph they are referring to

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Answers

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