Resources

Resources

Bytelearn - cat image with glasses

AI tutor

Welcome to Bytelearn!

Let’s check out your problem:

annum for 4 years. Find the markup of the bank.
3. Naseem receives a profit of Rs 27,000 at the rate of
12% per yeaf for 3 years. Find his original investment.
A. At what annual rate percent would
Rs68,000 amount to

annum for $4$ years. Find the markup of the bank. $\newline$ $3$ . Naseem receives a profit of Rs $27$ , $000$ at the rate of $12 \%$ per yeaf for $3$ years. Find his original investment. $\newline$ A. At what annual rate percent would $\mathrm{Rs} 68,000$ amount to

View step-by-step help

View step-by-step help

Finance problems

Full solution

Q. annum for

4

years. Find the markup of the bank.

\newline

3

. Naseem receives a profit of Rs

27

,

000

at the rate of

12 \%

per yeaf for

3

years. Find his original investment.

\newline

A. At what annual rate percent would

\mathrm{Rs} 68,000

amount to

Identify values: Initial investment = $\$11100$ , Yearly deposit = $\$100$ , Total years = $5$ , Final balance = $\$16100$ . Identify the values of $A$ , $P$ , $n$ , $t$ , $P_0$ . $A = 16100$ , $\$100$ $0$ , $\$100$ $1$ (compounded annually), $\$100$ $2$ , $\$100$ $3$ .
Use compound interest formula: Use the compound interest formula for an investment with annual deposits: $\newline$ $A = P(1 + \frac{r}{n})^{nt} + P_0 \times \left[\left(1 + \frac{r}{n}\right)^{nt} - 1\right]/\left(\frac{r}{n}\right)$ $\newline$ Substitute the known values into the formula. $\newline$ $16100 = 11100(1 + r)^5 + 100 \times \left[(1 + r)^5 - 1\right]/r$
Simplify the equation: Simplify the equation: $\newline$ $16100 = 11100(1 + r)^5 + 100\left[(1 + r)^5 - 1\right]/r$ $\newline$ This is a complex equation that typically requires numerical methods or trial and error to solve for $r$ .
Trial and error method: Assuming a trial and error method or using a calculator to solve for $r$ : After several attempts, we find that $r \approx 0.08$ or $8\%$ (This is an approximation; the exact rate might differ slightly).
Calculate interest earned: Calculate the interest earned: $\newline$ Interest = Final balance - (Initial investment + Total deposits) $\newline$ Interest = $16100 - (11100 + 5\times100)$ $\newline$ Interest = $16100 - (11100 + 500)$ $\newline$ Interest = $16100 - 11600$ $\newline$ Interest = $4500$

More problems from Finance problems

Question

Solve. Write your answer as an integer or a fraction in simplest form.

\newline

5^x=1

\newline

x=

Posted 2 months ago

Question

Steven opened a savings account and deposited

\$100.00

as principal. The account earns

9\%

interest, compounded annually. What is the balance after

5

\newline

Use the formula

A = P(1 + \frac{r}{n})^{nt}

A

is the balance (final amount),

P

is the principal (starting amount),

r

is the interest rate expressed as a decimal,

n

is the number of times per year that the interest is compounded, and

t

is the time in years.

\newline

Round your answer to the nearest cent.

\newline

\$

Posted 2 months ago

Question

Use the following function rule to find

f(1)

\newline

f(x) = 12(7)^x + 8

\newline

f(1) =

Posted 1 month ago

Question

The town of Valley View conducted a census this year, which showed that it has a population of

1,800

people. Based on the census data, it is estimated that the population of Valley View will grow by

12\%

\newline

Write an exponential equation in the form

y = a(b)^x

that can model the town population,

y

x

decades after this census was taken.

\newline

Use whole numbers, decimals, or simplified fractions for the values of

a

b

\newline

y =

Posted 2 months ago

Question

Solve. Round your answer to the nearest thousandth.

\newline

7 = 9^x

\newline

x =

Posted 2 months ago

Question

Solve. Round your answer to the nearest thousandth.

\newline

7 = e^x

\newline

x =

Posted 1 month ago

Question

Solve. Simplify your answer.

\newline

\log u = 1

\newline

u =

Posted 2 months ago

Question

Solve. Simplify your answer.

\newline

7\log x = 7

\newline

x =

Posted 1 month ago

Question

g(t) = 3^t

change over the interval from

t = 3

t = 4

\newline

\newline

g(t)

3

\newline

g(t)

3

\newline

g(t)

3\%

\newline

g(t)

200\%

Posted 2 months ago

Question

f(x)

6

over every unit interval in

x

f(0) = 0

\newline

Which could be a function rule for

f(x)

\newline

\newline

f(x) = 6^x

\newline

f(x) = 6x

\newline

f(x) = \frac{1}{6^x}

\newline

f(x) = \frac{x}{6}

Posted 2 months ago