Suppose the interest rate is 4%. a. Having $200 today is equivalent to having what amount in one year? b. Having $200 in one year is equivalent to having what amount today? c. Which would you prefer, $200 today or $200 in one year? Does your answer depend on when you need the money? Why or why not?

Answers

Answer 1

(a) $200 today is equivalent to having $208 in one year with 4% interest rate.

(b) $192.31 today would be equivalent to $200 in one year with 4% interest rate.

(c) true

Explanation:

(a) since simple interest is given as:

I = p x r x t/100

Where p = the principal amount

r = interest rate

t = number of years

Now, from the question our principal is $200 since we are to calculate the interest on it, and our rate is 4% as obvious from the question and as well as our time is 1year. Substituting these to the interest formula we get:

I = 200 x 4 x 1/100

And that gives $8 as the interest, therefore in one year the amount we shall have will be: $200 + $8 = $208

(b) assuming we have 200 as the amount, we have now, we can get the principal we had last year at 4% interest with the following

A = p(1 + rt/100)

Now our amount is assumed to be $200 for 1year at 4% interest rate, therefore we have:

200 = p(1+4 x 1/100)

This gives

200 = p x 1.04

which gives

200/1.04 = p

p = $192.31(to the nearest cents)

(c) The statement is obviously true, because the amount we buy things today are more expensive than the amount we bought them in previous years, so having $200 today is preferable because the interest on it is just so small and would be a waste of resources.    


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[tex]▪▪▪▪▪▪▪▪▪▪▪▪▪  {\huge\mathfrak{Answer}}▪▪▪▪▪▪▪▪▪▪▪▪▪▪[/tex]

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ФωФ

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£20,£5,10 see if that helps

The cost of each 1 pound candy is $30, 1 box of cookies is $5 and 1 can of popcorn is $10.

We have the church youth group is selling snacks to raise money to attend their convention.

We have to determine the cost of each item they sold.

Write the following statement in the form of a mathematical equation - Steve bought 2 toffees each of $x and 5 chocolates each of $y. The total cost is $50.

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2x + 5y = 50

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Assume that the cost of :

1 pound candy = $x

1 box of cookies = $y

1 can of popcorn = $z

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Amy -      2x + 3y + z = 85

Brian -     4x + 4y + 3z = 170

Paulina -     8x + 8y + 5z = 330

We will use the Cramer's rule to solve these equations -

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https://brainly.com/question/12682009

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The movement of the progress bar may be uneven becouse questions can be worth more or less including zero) depending on your answer
What is 35% of 28.6?
0.1001
1.001
10.01
0 100.1
Submit
Hold
Pass
Dony know answer
Skip for now

Answers

Answer:

10.01

Step-by-step explanation:

35% of 28.6

35/100*28.6

1001/100

=10.01

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Answers

Answer:

45m

Step-by-step explanation:

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it uses the formula [tex]\sqrt a^{2} +b^{2}[/tex] when you have to find the lenght of the longer side of a triangle with an angle of 90°. So the diagonal will be [tex]\sqrt27^{2} +36^{2}[/tex] =[tex]\sqrt729+1296[/tex] =  [tex]\sqrt2025[/tex] = 45

v
What is the value of x?
(3x)
20
(x + 40)
R.
35
Ο Ο Ο Ο
w
S
60
70

Answers

the value of x is 20
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