The effective annual interest rate calculations yield:
i = (1 + 0.064/12)^12 - 1 = 0.066
For year 1: the interest amounts to $613.80 (calculating $9300 multiplied by 0.066)
For year 2: the interest totals $654.31 (adding year 1’s interest to $9300 and multiplying by 0.066)
For year 3: the interest is $656.98 (following the same process as year 2)
For year 4: the interest is $657.16
The cumulative interest totals: $2582.25
The present value of this sum is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72
Thus, the final answer is $1999.72.
Parce qu'en connaissant les techniques pour identifier les nombres rationnels, vous saurez automatiquement quand un nombre n'est pas rationnel.
Answer: The loss percentage per gallon is 23.17%
Step-by-step explanation:Original price per gallon is $ 2.59
Discounted price per gallon is $ 1.99
Now, we will calculate the percentage loss per gallon, using the Direct Rule of Three as follows:
Price Percentage
2.59 100
1.99 x*****************************
2.59 * x = 1.99 * 100
2.59x = 199
x = 199/2.59
x = 76.83
So the percentage loss = 100 - 76.83
The percentage loss is 23.17%