Harry is saving for the deposit for an apartment. He has 21 350 EUR, but needs at least 30
000 EUR in 3 years time.
He compares banks that offer annual interest compounded monthly.
What is the minimum interest rate he requires to meet his needs? Give your answer to three
significant figures.
[Answer format: 00.0%]

Answers

Answer 1

We need to know about the concept of compound interest to solve the given problem. The minimum interest rate that Harry needs to meet his need is 11.4%

Compound interest can be described as the interest that you earn on both the principal amount and the interest earned. In this question it is said that the bank offers annual interest compounded monthly, we will be using a formula to solve this problem. Since Harry has 21350 EUR we will take that as the principal amount and the minimum amount that he needs is 30000 EUR we will consider this to be the final amount at the end of 3 years. We need to find out the rate of interest that the bank offers.

A=P[tex](1+\frac{r}{12} )^{12t}[/tex] where A is amount, P is principal, r is the rate of interest and t is time period.

P=21350 EUR

A=30000 EUR

t=3

30000=21350[tex](1+\frac{r}{12}) ^{36}[/tex]

[tex]\frac{600}{427} =(1+\frac{r}{12}) ^{36}[/tex]

1+[tex]\frac{r}{12}[/tex]=1.00949

r/12=0.00949

r=0.1139

r=11.4%

Therefore we found that the minimum rate of interest Harry requires to meet his needs is 11.4%

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Related Questions

For the data set {11, 13, 15, 15, 16, 17, 18, 19, 19, 20}, which is greater, the mean or the median?

Answers

Answer:

Median

Step-by-step explanation:

Median: (16+17)/2= 16.5

Mean: 11+13+15+15+16+17+18+19+19+20= 163

163/10= 16.3

Median is greater.

a container with 3 1/2 gallons of weed killer can spray 2 1/4 lawns. how many gallons would it take to spray 2 lawns

Answers

To spray on 2 lawns is required [tex]3\frac{1}{9}[/tex]  gallons.

Mixed fraction A fraction represented with its quotient and remainder is a mixed fraction. For example, 2 1/3 is a mixed fraction, where 2 is the quotient, 1 is the remainder. So, a mixed fraction is a combination of a whole number and a proper fraction.

Given ;

  A container with [tex]3\frac{1}{2}[/tex] gallons of weed killer can spray =  [tex]2\frac{1}{4}[/tex] lawans

∵ in [tex]\frac{9}{4}[/tex] lawn the week killer can spray =  [tex]\frac{7}{2}[/tex]gallons

∴ in 1 lawn the weed killer is  used = [tex]\frac{7}{2}[/tex] × [tex]\frac{4}{9}[/tex] gallon

∴ in 2 lawns the weed killer can spray =[tex]\frac{7}{2}[/tex]  ×  [tex]\frac{4}{9}[/tex]× 2 =[tex]\frac{28}{9}[/tex]  gallon =[tex]3\frac{1}{9}[/tex]gallons

  [tex]3\frac{1}{9}[/tex] gallons require to spray 2 lawns.

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A line has a slope of 1 and passes through the point (-5, 4). What is its equation in
slope-intercept form?

Answers

Answer:

y = x + 9

Step-by-step explanation:

y = mx + b  Use the x and y from the point (-5,4) and the slope to find b.  They you can write the equation.  An ordered pair is in the form of (x,y)

y = mx + b

4 = (1)(-5) + b

4 = -5 + b   Add 5 to both sides of the equation

9 = b

Now write the equation

y = x + 9

Figure B is a scaled copy of Figure A.

What is the scale factor from Figure A to Figure B?

(Please help)

Answers

Scale factor: 1/2

Chose a common side of the 2 figures, I chose the hypotenuse because it was the easiest to count. Find the length, A= 6 & B=3. Find the answer by doing B/A because you’re finding the scale factor of A->B. So, 3/6=1/2.

hi does anyone know whats this?? Or this?? Thank you for helping.

Answers

Answer:

1) [tex]\frac{51}{2}[/tex]    2) [tex]\frac{55}{12}[/tex]

Step-by-step explanation:

Answer:  I simplify the answer for u my friened 25.5

If m ∠ E F G = 35 ° and m ∠ G F H = 63 ° , what is m ∠ E F H ?

Answers

Answer:

28°

Step-by-step explanation:

63 -35 = 28

City A and City B are 312

miles apart. John leaves City​ B, driving towards City A at an average rate of 80

miles per hour. Pat leaves City A at the same​ time, driving towards City B in her antique​ auto, averaging 24

miles per hour. How long will it take them to​ meet?

Answers

Pat and John will meet in 3 hours.

How to calculate the value?

It should be noted that speed = Distance / Time

The appropriate equation will be:

80t + 24t = 312

104t = 312

t = 312/104

t = 3. hours

Therefore, it will take them 3 hours to meet.

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WORTH 20 POINTS!!!!!!!!! PLEASE HELP SCREENSHOTS ATTACHED DO ALL OF THEM PLEASE

Answers

1. The value of x is 14°

2. The value of x is 23°

3. The value of x is 22.5°

Calculating angles

From the question, we are to determine the value of x in the given diagrams.

1.

∠ CBA = 180° - 6x (Linear pair theorem)

and

m ∠BAC + m ∠CBA = m ∠FCB (Exterior angle theorem)

Thus,

2x + 180° - 6x = 124°

180° - 4x = 124°

180° - 124° = 4x

56° = 4x

x = 56/4

x = 14°

Hence, the value of x is 14°

2.

m ∠ABE = 4x (Alternate angles theorem)

m ∠ABD + m ∠ABE + m ∠EBF = 180° (Sum of angles on a straight line)

x + 4x + 65° = 180°

x + 4x = 180° - 65°

5x = 115°

x = 115°/5

x = 23°

Hence, the value of x is 23°

3.

m ∠EAB = 2x (Vertical angles theorem)

m ∠AEB = 180° - 4x (Linear pair theorem)

m ∠ABE = 180° - 6x (Linear pair theorem)

m ∠EAB + m ∠AEB + m ∠ABE = 180° (Sum of angles in a triangle)

Thus,

2x + 180° - 4x + 180° - 6x = 180°

180° + 180° - 180° = 6x + 4x -2x

180° = 8x

x = 180°/8

x = 22.5°

Hence, the value of x is 22.5°

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an envelope contains eight bills: two $ 1 bills, two $ 5 bills, two $ 10 bills, and two $ 20 bills. two bills are drawn at random without replacement. what is the probability that their sum is $ 20 or more? (a) 1 4 (b) 2 5 (c) 3 7 (d) 1 2 (e) 2 3

Answers

Probability is nothing but the ratio of favorable cases to all possible cases or in simple terms it is the ratio of sample set to all set

We are required to find all the cases in which sum of any two bills is 20$ or more

The total number of bills are two $ 1 bills, two $ 5 bills, two $ 10 bills, and two $ 20 bills.

The total case of drawing any two bills will be =

2 for $ 1 bill x two for 5$ bill x two for 10$ bill x two 20$ bills

=2 x 2x2x2 =16

Hence 16 ways in which two bills can be drawn at random

Cases in which bill can be greater than 20$= (1,20)(20,1)(5,20)(20,5)(10,10)(20,10)(10,20) (20,20)= 8 cases

Hence, total number of possible outcomes = 8

Hence the probability of bill to be 20$ or more= favorable outcome/total outcome

=8/16 =1/2

Hence the probability is 1/2

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rick's chore list shows that he is responsible for washing the dishes after dinner this week. last night, he washed 4 plates in 2 minutes. tonight, his grandparents are coming to dinner, and rick will wash 6 plates. if he washes plates at the same rate, how many minutes will it take rick to wash the plates tonight?

Answers

Rick will have to wash the plates for three minutes.

By first figuring out the value of a single unit and then multiplying the number by that value, the unitary approach in mathematics can be used to determine the required value.

• The unitary technique can be used to determine how many kilometres can be covered with 2 litres of gasoline, for instance, if a car goes 80 km on 6 l of fuel.

He washed 4 dishes in 2 minutes, thus we need to calculate how long it would take Rick to wash 6 plates. 4 plates, according to the rule, equals 2 minutes. Applying the unitary approach 1 plate in 2/4 of a minute 1 plate Equals 12 minute. 3 minutes equals 6 plates (12 times 6.6 plates).

Therefore, Six dishes will need to be washed in 3 minutes.

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Please help me as soon as possible major grade due today

Answers

Answer:

51/8

Step-by-step explanation:

each bracelet length as a fraction will be 51/8 inches if the artist uses the 51 inches of the string to make 8 bracelets

Draw a line representing the "rise" and a line representing the "run" of the line. State the slope of the line in simplest form.

Answers

Answer is in attachment

Rise and run in red pen,
-5/4 slope

It’s a negative slope going left to right

Points are (0,1) and (4, -4)
In green pen

can someone help me please

Answers

Answer:

1. A, 450 = 2(p+w); 450 = 3(p-w)

2. A, 2 units

3. D, Between step 6 and step 7

Step-by-step explanation:

1. This one is confusing on first glance.

[tex]450 = 2(p+w); 450 = 3(p-w)[/tex] Lets break down this equation.

[tex]2(p+w)[/tex] means, the plane speed, plus the windspeed, will take 2 hours to travel 450 KM. The reason we add the plane speed and the windspeed is because we have a tailwind instead of a headwind, the wind is pushing us forward, adding to the planes speed.

[tex]3(p-w)[/tex] means, the plane speed, minus the windspeed, will take 3 hours to travel 450 KM. We subtract the wind speed from the plan speed because the wind is a headwind, it's pushing us backwards, taking away from the planes speed.

----------------------------------------------------------------------------------------------------------

2. Let set these up as two-sided equations.

[tex](6x+3) + (4x) + (2x + 1) = (5x) + (5x) + (3x+2)[/tex]

Combine like terms

[tex]12x + 4 = 13x + 2[/tex]

Subtract 12x from both sides

[tex]4 = 1x + 2[/tex]

Subtract 2 from both sides

2 = 1x, or x = 2.

----------------------------------------------------------------------------------------------------------

3. Take a look at step 6. You want to get x by itself, to do that, and get rid of the 8, you'd divide both sides by 8 to get [tex]x = -\frac{15}{4}[/tex]

shane made a scale drawing of a hotel. a room in the hotel, which is 18 feet wide in real life, is 51 inches wide in the drawing. what is the scale of the drawing?

Answers

The scale of the drawing is 6 feet = 17 inches

Scaling is the process of increasing or reducing the size of a figure by a factor k.

In the given statement is:

Shane made a scale drawing of a hotel. a room in the hotel, which is 18 feet wide in real life, is 51 inches wide in the drawing.

A figure which is 18 feet wide in real life, is 51 inches wide in the drawing, hence the scale is:

Now, According to the question is

18 feet = 51 inches

Divide both sides by 3:

6 feet = 17 inches

Therefore, the scale of the drawing is 6 feet = 17 inches

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The volume of a cuboid having health is double of the height and length is triple of the height is 1296 cm ³ find the area of base.​

Answers

The area of the base is 216 cm².

The volume of a cuboid is 1296 cm³.

The breadth of the cuboid is double the height of the cuboid and the length of the cuboid is triple the height of the cuboid.

Let the length, breadth, and height of the cuboid be l, b, and h respectively.

Then,

l = 3(h)

b = 2(h)

The volume of a cuboid is given as:

V = l × b × h

1296 = 3(h) × 2(h) × h

1296 = 6 × h³

h³ = 1296 / 6

h³ = 216

h = ∛216

h = ∛(6)³

h = 6 cm

Therefore, the length of the b is l = 3(h) = 3 × 6 = 18 cm

The breadth of the cuboid will be:

b = 2(h)

b = 2 × 6

b = 18 cm

Now the volume of the cuboid is also given as:

Volume = base area of  cuboid × height

1296 = base area × 6

base area = 216 cm²

The base area is 216 cm².

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when 10 candles are sold, the store makes a profit of $7. when 15 candles are sold, the store makes a profit of $12. when 20 candles are sold, the store makes a profit of $17. write an equation to describe the relationship between the profit, y, and the number of candles sold, x.

Answers

The equation which describe the relationship between the profit, y, and the number of candles sold, x is x - y = 3.

Given that:-

When 10 candles are sold, the store makes a profit of $7.

When 15 candles are sold, the store makes a profit of $12.

When 20 candles are sold, the store makes a profit of $17.

We have to write an equation which describe the relationship between the profit, y, and the number of candles sold, x.

As we can observe from the given data,

number of candles sold - 3 = profit (in $)

Hence, we can write,

x - 3 = y

x - y = 3.

Where,

x represents the number of candles sold and,

y represents the profit

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Please Answer the question in photo [ Brainliest + points ]

Answers

Answer:

72

Step-by-step explanation:

Step-by-step explanation:

QC = Qu + UC

Qu= 22

Uc= 70

QC= 22 + 70

QC = 92

Your friend Alex has won a scholarship to study abroad. (Congratulations!) Alex has only 8 weeks to earn enough money to buy a plane ticket, and he wants to work at an amusement park over the summer to achieve this goal.

Tech intership
Schedule- Part Time (20hours/week)
Wage- 11.50/hour

Amusement park attendant
Schedule- full time (40hours/week)
Wage - 9/hour+ 100 bonus

8 weeks to buy airplane ticket $2200

Please help with the table

Answers

The formula for calculating Alex's earnings from his employment at the theme park is 8(40 x 9 + 100) = 8(360 + 100) = 8(460) = $3,680.

Given: that the plane ticket costs $2,200 and that y = 11.5x gives the function that represents the potential earnings Alex may make from the tech internship, the inequality that reflects the maximum number of hours Alex can work at the internship follows.

He puts in 20 hours every week at the internship, which translates to 160 hours of work over the course of 8 weeks.

Given that the internship pays $11.5 an hour for 160 hours, her earnings of 11.5 x 160 = $1,840 will not be sufficient to cover the cost of the plane ticket.

A few of the theme park employment that are available in this sector include costume character work, ride technician, admissions attendant, lifeguard, and gaming attendant. Workers at concession stands must be swift to prevent long queues and receive cash for food and drinks.

Hence, Alex's employment at the internship will not generate enough income to pay for the ticket.

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Josie took a long multiple-choice, end of the year vocabulary test. The ratio of the number of problems Josie got incorrect to the number of problems she got correct is 2:9. If Josie missed 20 questions, how many did she get correct?

Answers

Hence she got 90 correct answer.

How many did she get correct?

Ratio of the number of problems she got incorrect to the number of problems she got correct = 2:9

Number of incorrect answers = 8

Let the number of incorrect answers be 2x

Let the number of correct answers be 9x.

So, According to question, we get that

[tex]2x = 20\\ x =\frac{20}{2} \\ x = 10[/tex]

So, the number of correct answers would be

  [tex]9x = 9\times 10\\\\ =90[/tex]

Hence she got 90 correct answer.

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does anyone know this? this is 8th grade math. (eureka math squared)

Answers

Solutions of given exponents are :

1.  [tex]9^{18}[/tex]   2. [tex]16x^4[/tex]   3.  [tex]\frac{6561}{y^2}[/tex]

What are exponents ?

In, mathematics a exponent or exponential equation or exponential function is inverse of a logarithmic function. That means, we can easily convert the logarithmic function into exponential function and vice versa. The shows the behavior of something to the power of something. The basic form of the exponential can be written as [tex]a^x[/tex]

where, a = the base of function

            x = exponential

Important properties of exponential :

[tex](a^n)^m = a^{nm}[/tex][tex](ab)^n = a^n.b^n[/tex][tex](\frac{a}{b})^n = \frac{a^n}{b^n}[/tex][tex]a^0=1[/tex][tex]a^1=a[/tex]

According to the question,

1. given, [tex](9^{3})^6[/tex]

  use the property, [tex](a^n)^m = a^{nm}[/tex]

   [tex](9^{3})^6[/tex] = [tex]9^{3.6} = 9^{18}[/tex]

2. Given, [tex](2x)^4[/tex]

   use the property, [tex](ab)^n = a^n.b^n[/tex]

    [tex](2x)^4[/tex] = [tex]2^4.x^4 = 16x^4[/tex]

3. Given , [tex](\frac{3^4}{y}) ^{2}[/tex]

    use the property, [tex](\frac{a}{b})^n = \frac{a^n}{b^n}[/tex]

     [tex](\frac{3^4}{y}) ^{2}[/tex] = [tex]\frac{(3^4)^2}{y^2}[/tex]

    now use ,  [tex](a^n)^m = a^{nm}[/tex]

     = [tex]\frac{3^8}{y^2} = \frac{6561}{y^2}[/tex]

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please help with this question, thank you!!​

Answers

∵AB⊥XY ∴BX=BY
∵XY=3cm ∴BX= ½XY=1.5cm
Let the radius be r cm.
then, OX=OY=OA=r cm
∵AB=3.5cm ∴OB=3.5cm-r cm
∵AB⊥XY ∴OB²+BX²=OX²
∴(3.5-r)²+1.5²=r² ∴r=29/14
So the answer is 29/14 (2.1).

Answer:

2.1 cm (nearest tenth)

Step-by-step explanation:

The radius (r) of a circle is the distance between its center and its circumference.  Therefore, from inspection of the given circle:

⇒ r = OX = OY = OA

Given:

AB = 3.5 cmOA = r

⇒ AB = OA + OB

⇒ 3.5 = r + OB

⇒ OB = 3.5 - r

As OX = OY and AB is perpendicular to XY then XB = BY.

As XY = 3 cm:

⇒ XB = BY = 1.5 cm

Therefore, for ΔOBX:

Leg a = OB = (3.5 - r) cmLeg b = XB = 1.5 cmHypotenuse = OX = r cm

Pythagoras Theorem

[tex]a^2+b^2=c^2[/tex]

where:

a and b are the legs of the right triangle.c is the hypotenuse (longest side) of the right triangle.

Use Pythagoras Theorem and the defined sides of ΔOBX to find r:

[tex]\implies OB^2+XB^2=OX^2[/tex]

[tex]\implies (3.5-r)^2+1.5^2=r^2[/tex]

[tex]\implies 12.25-7r+r^2+2.25=r^2[/tex]

[tex]\implies 14.5-7r+r^2=r^2[/tex]

[tex]\implies 14.5-7r+r^2-r^2=r^2-r^2[/tex]

[tex]\implies 14.5-7r=0[/tex]

[tex]\implies 14.5=7r[/tex]

[tex]\implies 7r=14.5[/tex]

[tex]\implies \dfrac{7r}{7}=\dfrac{14.5}{7}[/tex]

[tex]\implies r=2.07142857...\: \sf cm[/tex]

Therefore, the radius of the circle is 2.1 cm (nearest tenth).

In a certain​ chemical, the ratio of zinc to copper is 4 to 19 . A jar of the chemical contains 551 grams of copper. How many grams of zinc does it​ contain?

Answers

Answer:

116 g

Step-by-step explanation:

Zn:Cu = 4:19

so 551 x (4/19) = 116

     

Ava can clean 6 apartments in 4 hours. At this rate, how long will it take Ava to clean 9
apartments?

Answers

Answer: 6 hours

Step-by-step explanation: 6 apartments divided by 2 is 3 apartments and 4 hours divided by 2 is 2 hours. 3 apartments per 2 hours. So, 3/2 x 3/3 is 9/6 which is 9 apartments for 6 hours.

(a) A pyramid is made above a cuboid with measure 90 cm x 50 cm × 225 cm. If the height of the pyramid including cuboid is 240 cm, find the total volume. ​

Answers

The total volume of the solid = 1,035,000 cm³

What is the Volume of a Pyramid and a Cuboid?

Volume of a Pyramid = 1/3(length)(width)(height).

Volume of a cuboid = (length)(width)(height).

Volume of the Pyramid = 1/3(length)(width)(height)

Volume of the Pyramid = 1/3(90)(50)(240 - 225)

Volume of the Pyramid = 1/3(90)(50)(15)

Volume of the Pyramid = 22,500 cm³

Volume of the cuboid = (length)(width)(height)

Volume of the cuboid = (90)(50)(225)

Volume of the cuboid = 1,012,500 cm³

The total volume of the solid = 22,500 + 1,012,500

The total volume of the solid = 1,035,000 cm³

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Express the number 78.263 using ones, tenths, and thousandths.

Answers

The number 78.263 using ones, tenths, and thousandths means

8 = ones2 = tenth3 = thousandths

Place value

This is the value of each digits based on its position in a number.

It is divided into whole number part and fractional part.

Whole number part:

Hundred thousandTen thousandThousandHundredTensOnes

Fractional part:

TenthsHundredthThousandthsTen thousandthsHundred thousandths

78.263

3 = thousandths6 = Hundredth2 = tenths. = decimal point8 = Ones7 = tens

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Please help me with this question!!

Answers

The statement that is true about the segment connecting points B and C is D. The segment has a finite length that can be measured.

What is a segment?

It should be noted that ieometry, a line segment is the part of a straight line bounded by two distinct end points, and contains every point on the line that is between its endpoints.

It should be noted that the length of a line segment is given by the Euclidean distance between its endpoints.

Therefore, in this case, the statement that is true about the segment connecting points B and C is that the segment has a finite length that can be measured.

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Carly has already written 35 pages of a novel. She plans to write 12 additional pages per month until
she is finished. Write and solve a linear equation to find the total number of pages
months.
at 5

Answers

Answer:

f(x) = 12x+35

f(5) = 95 pages written at 5 months

Step-by-step explanation:

Step 1: write the slope intercept equation

f(x) = mx+b

f(x) = the value of the equation at month x

m = slope of the linear equation (pages written PER month)

x = the month

b = intercept of the equation (pages already written)

Step 2: relate given information to the variables

m = 12 pages per month

b = 35 pages already written

Step 3: update equation

f(x) = 12x+35

Step 4: solve for x = 5 months

f(5) = 12(5) + 35 = 60 + 35 = 95

a2- 3x -10 please solve this what will be the factor of it ​

Answers

The factors of the equation is  (x - 5)  (x + 2).

Given the equation is x²-3x-10

we are asked to factorize the equation.

Factorization is the process of identifying two or more expressions whose product is an algebraic expression. It is often referred to as finding the factors of an expression. Finding two or more expressions whose product is the given expression—known as factorization—is the process of breaking down algebraic expressions. A factor is any number that divides the given number by itself without leaving any remainder. It simply implies representing a number as the product of two other integers.

x²-3x-10

x² - 5x + 2x - 10

x(x - 5) + 2(x - 5)

(x - 5)  (x + 2)

Thus, the factorization of the given expression  x²-3x-10

= (x - 5)  (x + 2)

Hence we get the factors as (x - 5)  (x + 2)

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Answer:

To factor the quadratic expression a2 - 3x - 10, we need to find two numbers that multiply to give -10 and add to give -3. These numbers are -5 and 2. Therefore, we can write:

a2 - 3x - 10 = (a - 5)(a + 2)

So the factors of the quadratic expression a2 - 3x - 10 are (a - 5) and (a + 2).

Decimal equivalent to 2/5

Answers

Answer:

0.4

Step-b0.y-step explanation:

PLEASE HELP ASAP
R is the midpoint of HS. N is the midpoint of RS and RN=5cm. What is the length of HS

Answers

Answer: 20 cm

Step-by-step explanation: if the length of R-N= 5cm therefore you multiply 5 by each dot so H-O is 5 cm, H-R is 10 cm, H-N is 15 cm, and H-S is 20 cm.

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