over the last 4 years michael has earned $240 interest on an initial investment of $2,000. what simple annual interest rate is the bank paying on this account

Answers

Answer 1

Answer:

.03 or 3%.

Step-by-step explanation:

Important:

I = interest

P = principal (investment)

R = simple interest rate

T = years

Formula: I = PRT

Given:

I = $240

P = 2000

T = 4 years

R = ?

Plug into formula:

240 = 2000(R)4

Multiply right side 2000*4

240 = 8000R

Divide both sides by 8000.

R = 240/8000

R = .03

The simple annual interest rate was .03 or 3%.

Therefore it .03 or 3%


Related Questions

Evaluate 1/4x+ 1/20 when x =1/5

Answers

Answer:

1/10

0.1

Step-by-step explanation:

What is the least common denominator (LCD) of 13 and 34?

Answers

Answer:

442

Step-by-step explanation:

What is the sum to 5(−3.4k−7)+(3k+21)

Answers

Your answer is: -14k-14

Step-by-step explanation:

5(-3.4k-7)+(3k+21)

_17k-35+3k+21

-14k-35+21

-14k-14

Answer:

5(-3.4k-7)+(3k+21)

_17k-35+3k+21

-14k-35+21

-14k-14

Your answer is: -14k-14

y = 2/5x -1/2 + y = -1/3x + 2/3 combine like terms​

Answers

Answer:

2

Step-by-step explanation:

Answer:

2

Step-by-step explanation:

Have a nice rest of your day

#Nova

major help.......................

Answers

Answer: C. 85°

Step-by-step explanation:

Answer:

I look lik dis almost dreads and then them types of braces and my eye brows look like that and I got a tattoo on my face but my eyes are blue and I have contacts so no more glasses

If LM = 22 and MN = 15 find LN

Answers

Answer:

LN = 37

Step-by-step explanation:

The Segment Addition Postulate tells us that LM+MN = LN

LN=37 because the number is even and odd so it will be 37

Mother arranged 5 rows with 3 cups and saucers in each row she then put on the table 2 more sets of cups and saucers how many cups and saucers were on the table

Answers

Answer:

I think it might be 30 if the each cup and saucer is counted as 1.

Step-by-step explanation:

5 x 3 = 15 x 2 = 30

Guys can u please help i can explain it so i gotta send a photo i always give hearts and 5 stars :D the photo is down below

Answers

Answer:

5x cm

Step-by-step explanation:

Total length of AE = 2x + 3x

= 5x cm

Plz Help! A B C or D​

Answers

Answer:

B

Step-by-step explanation:

go download symbolab and enter the quenstion it wil give you many help!

Tom made $90 for 5 hours of work.
At the same rate, how many hours would he have to work to make $126?

Answers

7 Hours

Step-by-step explanation:

Very simple, 90/5 is 18, so that means Tom makes 18 dollars an hour, multiply 18 by 7 and you get 126.

(Thanks and Brainiest Appreciated)

If x2 + y2 = 14 and xy = 5, find the value of (1/2 x + 1/2 y)2.

Answers

Answer:

(½x+½y)²=6

Step-by-step explanation:

x^2 + y^2 = 14, xy=5

(A+B)^2=A^2 +2AB+B^2... (*)

(1/2x+1/2y)^2 =(*)

(1/2x)^2 +2(1/2x)(1/2y)+(1/2y)^2 =

1/4x^2 +1/2xy+1/4y^2=

1/4(x^2 +y^2) +1/2(xy)=

1/4*14+1/2*5=

14/4+5/2=

14/4+10/4=

24/4=6

let me know if I'm wrong.

( 1/2x +1/2y)²

= { ( x + y )/ 2xy }²

= ( x² + 2xy + y² )/4(xy)² —(1)

As we know that x² + y² = 14 — (2)

and xy = 5 —(3)

So, substitute the value of equation 2 and 3 in equation 1,

= ( x² + 2xy + y²)/4(xy)²

=( 14 + 2*5)/(4*5²)

= 24/(4*25)

= 6/25.

PLEASE HELP!!!!! You are given an isosceles trapezoid ABCD with median XY. Complete the following.
m

Answers

Lol give me a second

It is a three-digit whole number.
It is divisible by 7.
It is divisible by 9.
It is divisible by 11.
It is divisible by 3.
It is not divisible by 5.
It is not divisible by 4.
It is not divisible by 6.
It is greater than 500.
It is an odd number.

Answers

Answer:

Do you have answer choices?

Step-by-step explanation:

Answer:

2079

Step-by-step explanation:

Answer for points ig I’ll thank it

Answers

Answer:

thanks

Step-by-step explanation:

Answer:

Thank you (:                                                                  

What is the surface area in square inches of a cube with a side 7
inches long?
10

Answers

Answer:

28

Step-by-step explanation:

7x4

Answer:

249 inches

Step-by-step explanation:

a cube is equal on all sides so if one side is 7 all sides are 7, if you multiply 7 by 7 you get 49 but that's just one face of the cube, there are 6 faces on a cube so 49 x 6 is 249

3. The difference of two-thirds of a number x and
6 is at least -24. Which inequality represents all
possible values for x?

Answers

2/3x+ _< -24 then 2/3x _< -30 then 1/3x _< -15 so x >_ -45

The inequality that represents all possible values for x is  x ≥ -27.

What is linear inequality?

Linear inequality refers to the relation between a linear algebraic expression to some known value that contains inequality sign.

Unlike a linear equation it can have a range of values inside an interval.

The given statement can be written in terms of inequality as,

2/3x - 6 ≥ -24

=> 2/3x  ≥ -24 + 6

=> 2/3x  ≥ -18

=> x ≥ -27

Hence, the inequality expression for the given problem can be written as x ≥ -27.

To know more about linear inequality click on,

https://brainly.com/question/11897796

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Which of the following represents the area of a rectangle whose length is x − 6 and whose width is x − 8? (1 point)

x2− 14x − 48
x2+ 48
x2− 48
x2− 14x + 48

Answers

Answer:

x²-14x+48

Step-by-step explanation:

Area= Length × Width

Area= x-6 × x-8

Area= (x-6)(x-8)

Area= x²-8x-6x+48

Area= x²-14x+48

Hope this helped you- have a good day bro cya)

Select the correct answer.
Which statement is true about the graph of this equation?

y + 4 = 4(x + 1)

A.
The graph is a line that goes through the points (1,-4) and (0,0).
B.
The graph is a line that goes through the points (1,4) and (2,8).
C.
The graph is a line that goes through the points (-4,-1) and (-3,-3).
D.
The graph is a line that goes through the points (4,1) and (5,5).

Answers

The answer is B
I hope this helped you !!

Answer:

A

Step-by-step explanation:

The graph is a line that goes through the points (1,-4) and (0,0)

find the solutions of the quadratic equation.-x^2+7x-14=0

Answers

Answer:

Step-by-step explanation:

x =(-7+√-7)/-2=(7-i√ 7 )/2= 3.5000+1.3229i

 or:

x =(-7-√-7)/-2=(7+i√ 7 )/2= 3.5000-1.3229i

What is the slope of this line?

Enter your answer as a fraction, formatted like this: 42/53

Or, if the slope is undefined, enter a lowercase letter "u," like this: u

Answers

Answer:

-1/2

Step-by-step explanation:

To find the slope, you use the rise/run method.

To get from one point to another, you would move 1 unit down (rise) and 2 units to the right (left)

The slope would be -1/2

Hope this helps! Brainliest would be really appreciated!

the graph of the equation y=2x-1 is shown in the coordinate plane.

wich lists contain only points that lie on the graph of y=2x-1?

A. (0,-1), (15,29), (2,3)
B. (2000, 1999), (3,5)
C. (-2,-3), (-5,-9), (0,0)
D. (-0.5, -2), (0.3, -0.4), (0.5, 0)
E. (1/4, -1/2), (4/5, 3/5)

Answers

Answer:

A, D, & E

Step-by-step explanation:

If you plug in the coordinates, they prove to be valid

(0, -1)

2(0) - 1

0 - 1 = -1

(15, 29)

2(15) - 1

30 - 1 = 29

(2, 3)

2(2) - 1

4 - 1 = 3

(-0.5, -2)

2(-0.5) - 1

-1 - 1 = -2

And so on. Just plug them in and see if it is correct.

If I have a 77 and i get 100 added to my grade what will my final score be?

Answers

Answer:

Most likely a B.

Step-by-step explanation:

This depends on how much the test was of your grade.

4x+3y=16 x= -3 and y= -2 Solve the equation​

Answers

Answer:

Is this question wrong?

Step-by-step explanation:

4x+3y=16

4(-3)+3(-2)=16

-12-6=16

-18=16

the angles of a triangle measure 4 degrees,86 degrees, and 90 degrees.

Answers

Answer:

It is a right angled triangle.

Step-by-step explanation:

Because it has 90° angle in it.

Hope it helps..!!<3

PLEASE PLEASE PLEASE HELP

Answers

10- 9

11- 5

12- 1

13- 10

14- 3

15- 7

16- 3

17- 3

18- 6

Amy contributes $50 per month into the Lincoln National Bond Fund that earns 7.26% annual interest.What is the value of Amy’s investment after 25 years?

Answers

Answer:

Inc Interest : $16,089

Step-by-step explanation:

1. Let's turn $50 a month into a year, so 50 * 12 = $600

2. Including the annual interest, which is $43.56 out of the $600

3. Add them together, which will be 43.56 + 600 = 643.56

4. Multiply it by 25 to get the full 25 years and you're done!

The value of Amy's investment after 25 years will be $140.75.

What is simple interest?

Simple interest is calculated just on the loan's principal amount, whereas compound interest is calculated on both the principal and the cumulative interest. The straightforward crediting of cash flows related to an investment or deposit is referred to as "simple" interest.

Given that, Amy contributes $50 per month to the Lincoln National Bond Fund which earns 7.26% annual interest.

The investment after 25 years will be calculated as,

SI = ( P x R x T)/100

SI = ( 50 x 7.26 x 25 ) / 100

SI = $90.75

The total investment will be calculated as,

A = $90.75 = $50

A = $140.75

Therefore, the value of Amy's investment after 25 years will be $140.75.

To know more about simple interests follow

https://brainly.com/question/2294792

#SPJ5

negative2 - 7 is equvilent to

Answers

Answer:-5

Step-by-step explanation:

Answer:

-9

Step-by-step explanation:

-2 - 7

Picture a number line in your head, you begin at negative 2, which is less than 0 and you further go left 7 points, so you will end at -9

A pair of pants that regularly costs $55 are on sale for 35% off the regular price. What is the sale price of the pants?​

Answers

Answer:

$35.75

Step-by-step explanation:

100-35=65

.65 x 55 = 35.75

Answer:

$35.75

Step-by-step explanation:

35% converted to decimal is .35

55x.35= 19.25 the sale amount

$55 original price - $19.25sale = $35.75 sales price of pants.

Solve for a. -16-7a=5

Answers

Answer:

A = -3

Step-by-step explanation:

-16-7(-3)=5

Anne goes out to lunch every Friday. On average she spends around
$18 each time, How much money can she save in one year if she
stops going out for lunch each week?

Answers

Answer:

$936

Step-by-step explanation:

there are about 52 weeks in a year

18*52=936

Hope this helps!

936……………………………………………
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