For a 5-year period, determine the compound interest rate per year that is equivalent to a simple interest rate of 15% per year.
What will be an ideal response?
Set future values equal to each other
Simple: F = P + Pni
= P(1 + 5*0.15)
= 1.75P
Compound: F = P(1 + i) n
= P(1 + i) 5
1.75P = P(1 + i) 5
i = 11.84%
You might also like to view...
A spark plug and ignition coil is typically used in an SCR system to cause the DEF to ignite.
Answer the following statement true (T) or false (F)
New Immigrant groups were regarded with special hostility by many nativist Americans because
A. most Americans considered Italian, Greek, or Jewish culture inferior to their own. B. many New Immigrants attempted to convert Americans to Catholicism, Orthodox Christianity, or Judaism. C. in many New Immigrant families, women were kept in distinctly subordinate roles. D. New Immigrants were often more politically loyal to their homelands than to the United States. E. their religions were distinctly different, and some New Immigrants were politically radical.
What is used to top off the water supply for the system?
A) the low-water cutout B) a pressure-regulating valve C) the supply pump D) the return water line
Define the following emergency-response concepts: ERT, ERN, and TRT
What will be an ideal response?