Ask Question
25 September, 17:11

The annual interest rate on a loan is 12% which can be represented using the expression 1.12t. Write an expression that represents the 6 month interest rate. A) 1.058t B) 1.0582t C) 1.119t D) 1.1192t

+2
Answers (1)
  1. 25 September, 17:22
    0
    B) 1.0583^t

    Step-by-step explanation:

    The formula for the interest earned on an investment is

    I = (1 + r) ^t

    dа ta:

    I = 1.12

    t = 2

    Calculations:

    1.12 = (1 + r) ²

    Take the square root of each side

    1.058 30 = 1 + r

    Then, the formula for the interest calculated on a six-month basis is

    I = 1.0583^t

    The option with the closest answer is B) 1.0582^t.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The annual interest rate on a loan is 12% which can be represented using the expression 1.12t. Write an expression that represents the 6 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers