A bank says you can double your money in 10 years if you put $1,000 in a simple interest account. What annual interest rate does the bank pay?

Answers

Answer 1
Answer: The simple interest formula allows us to calculate I, which is the interest earned or charged on a loan. According to this formula, the amount of interest is given by I = Prt, where P is the principal, r is the annual interest rate in decimal form, and t is the loan period expressed in years. The rate r must be converted from a percentage into decimal form.

Then, 2,000 = 1,000 * r * 10 ;
 Finally, r = 2 
÷ 10 = 20 ÷ 100 = 0.02

Answer 2
Answer:

The answer to this is 10%.



Related Questions

Solve: r 5 - 6 = -1
Help Meh PleAseWhich are the correct classifications for the polygon?A.convex pentagonB.concave hexagonC.convex hexagonD.concave pentagon
PLEASE HELPFind the surface area of a triangular prism, base measures 6 cm, height measures 4 m, sides measure 5 cm and height of prism measures 10 cm​
Will offer 11 points to anyone!
The side of a square is 3n-2r. What is the perimeter? What is the area?

A circle has how many straight sides and vertices it have

Answers

a circle has 0 striahgt side and 0 vertices
a vertex is basicaly like a corner
the side of a circle is curved (not straight)

0 straight sides and vertices

What are the first seven multiples of 6, 7, 8, and 9.

Answers

The first seven multiples of those numbers are:

First 7 multiples of 6: 6, 12, 18, 24, 30, 36

First 7 multiples of 7: 7, 14, 21, 28, 35, 42

First 7 multiples of 8: 8, 16, 24, 32, 40, 48

First 7 multiples of 9: 9, 18, 27, 36, 45, 54

Please help me on this question

Answers

cool, this is what I just took


a1=first term
since it starts with -3, a1=3
sub
an=-3r^(n-1)
common ratio is what must be multiplied to get next term
-3 times what is -6
answer is 2
r=2
a_(n)=-3(2^(n-1))  is equaiton (first option)

In January 2012, the US population was about 313 million people. In January 2017, it was about 324. What was the average rate of population change per year?

Answers

The average population change per year is 11 million

Final answer:

The U.S. population increased by an average of 2.2 million people per year from January 2012 to January 2017.

Explanation:

To calculate the average rate of population change per year, we first need to find out how much the population changed over the given period. In this case, the US population went from 313 million people in January 2012 to 324 million people in January 2017 - a difference of 11 million people over 5 years.

Next, we divide this difference by the number of years to find the average change per year. So, 11 million divided by 5 years equals an average annual population increase of 2.2 million people over this five year period.

This method of calculating average change is an important concept in demography, the study of populations, which considers factors such as fertility, mortality, and migration.

Learn more about Average rate of population change here:

brainly.com/question/33833447

#SPJ2

Use the table above. Find the measure of the central angle you would draw to represent apple juice in a circle graph

Answers

where is the table?
i might can answer it

What is 3.14 × 16²

3.14 = Pie

Answers

3.14*16 squared
16 squared= 256
256*3.14=803.84
Hope this helped