Mathematics, 29.11.2019 17:31 vivianfling
The annual interest rate on a loan is 12% which can be represented using the expression 1.12t. write an expression that represents the 6 month interest rate. a) 1.058t b) 1.0582t c) 1.119t d) 1.1192t
Answer from: amunnik04
B) 1.0583^t
Step-by-step explanation:
The formula for the interest earned on an investment is
I = (1 + r)^t
Data:
I = 1.12
t = 2
Calculations:
1.12 = (1 + r)²
Take the square root of each side
1.058 30 = 1 + r
Then, the formula for the interest calculated on a six-month basis is
I = 1.0583^t
The option with the closest answer is B) 1.0582^t.
Answer from: Quest
23
step-by-step explanation:
Answer from: Quest
quit
step-by-step explanation:
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