help

You invest $1000 in an account that has an annual interest rate of 4%, compounded monthly for 12 years. What is the equivalent interest rate and how many times will the money be compounded?

Answers

Answer 1

The equivalent interest rate is 4.07%.

The money will be compounded 12 times.

What is the equivalent interest rate?

The equivalent interest rate is the actual interest rate that an account earns after accounting for number of compounding.

Effective interest rate = (1 + APR / m ) ^m - 1

M = number of compounding

(1 + 0.04/12)^12 - 1 = 4.07%

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Related Questions

A Store-It-All storage facility requires users to enter a four digit code, using numbers 0-9, to get through the
gate. You need to get a box of winter clothes from your storage container, but you forgot the code.
1. How many possible codes are there if the digits cannot be repeated?
There are
possible codes.
2. What is the probability that you will guess the correct code on your first try?
P(correct code) =
3. If the digits can be repeated, how many possible codes are there?
There are
different codes.

Answers

Answer:

Step-by-step explanation: 1. 5040 because 10x9x8x7

3. 10000 because 10^4=1000

1)There are 5040 possible codes are there if the digits cannot be repeated.

2)The probability that you will guess the correct code on your first try will be (1/5040).

3) Possible code = 10000 .

Given,

Numbers : 0 to 9

Here,

Total number of digit = 0,1,2,3,4,5,6,7,8,9

Given condition;

a)

Four digit card must be drawn;

The total possible ways there if the digits cannot be repeated will be;

⇒10×9×8×7

⇒5040

b)

The probability that you will guess the correct code on your first try is;

P(A) = n(A)/n(S)

Where,

n(A) is the event has the right code

n(S) is the total possible ways;

P(A) =1/5040

Hence the total possible ways there if the digits cannot be repeated and the probability that you will guess the correct code on your first try will be 5040 and (1/5040) respectively.

c)

If the gits can be repeated then we have 10 digits for each place :

Possible code = 10 * 10 * 10 *10

Possible code = 10000

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If f(n)= n²-n, then f(-4) is
O-20
12
-12
20

Answers

Answer:

20

Step-by-step explanation:

Plug in -4 for n:

(-4)^2 - (-4) = 16 + 4 = 20

Frankie’s weekly budget includes a long-term goal of purchasing a car. He is saving $15 a week toward that goal. He is considering saving up his money to purchase his grandmother’s older car. Frankie knows his grandmother has maintained the car and it is in good condition. She is also giving him a greatly discounted price of $800. What should Frankie consider before buying the car? Check all that apply. what he will be giving up if he spends $800 on the car the cost to maintain (oil, tires, gas, brakes) and insure the car how many of his friends have cars his short- and long-term financial goals if an alternate mode of transportation, such as a bicycle or the bus, is sufficient for his needs

Answers

The decision of purchasing a car must be taken by Frankie after considering the following points:

1. what he will be giving up if he spends $800 on the car

2. The cost to maintain and ensure the car

3. his short- and long-term financial goals

4. if an alternate mode of transportation, such as a bicycle or the bus, is sufficient for his needs.

What is the point he must know about purchasing a car?

Frankie is an individual person when he wants to purchase a car that is his long-term goal.

he must consider various things before making such a big expenditure.

The points to be noted before purchasing a car are:

what is the cost for Frankie for spending $800?

What will be the maintenance and insurance cost?

He must check his other short and long-term goals before purchasing a car.

Is the expense of the car a necessity for Frankie or he can use public transport.

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Answer:

Step-by-step explanation: thank me later

A,B,E

parallelogram
b=12 cm, h=10 cm, a=

Answers

Answer: 120 cm^2

Step-by-Step Explanation:

Base (b) = 12 cm
Height (h) = 10 cm
Area (a) = bh

Therefore,
= bh
= b * h
= 12 * 10
=> 120

Area (a) = 120 cm^2

Determine algebraically whether the function is even, odd, or neither: f(x)=3x ³ +5

Answers

i am sure that the function will be ODD
I HOPE I HELP✍️

...............
................ ​

Answers

Let the numbers be x and x/7

Now

sum=824x+x/7=8248x/7=8248x=824(7)8x=5768x=721

The numbers are

721 and 721/7=103

Answer:

7x+X=824

8X/8=834/8

x=108

Step-by-step explanation:

hope I helped

A farmer has decided to divide his land area in half in order to plant soy and corn. Calculate the area of the entire area so he knows how much soil is needed.

A parallelogram with a height of 6 yards and side length 9 yards. The height forms a triangle with the slanted side of the rhombus with a base of 2.5 yards. Rhombus is split into a soy half and a corn half.

Each bag of soil covers 20 square yards. How many bags should the farmer purchase?

Answers

The farmer should purchase 2 bags of soil for his farm.

What is Area of rectangle?

Area of rectangle is the region occupied by a rectangle within its four sides or boundaries. The area of a rectangle depends on its sides.

The shape of the farm, according to the picture is a parallelogram.  the total area can be calculated as follows:

Area = b X h

where

b = base

h = height

base = 6.5 + 2.5 = 9.0 yards

height = 6 yards

Area = 6 × 9 = 54 square yards.

40 square yards requires 1 bag of soil .

54 square yards will require ?

cross multiply

Bags required = 54 / 40 = 1.35 bag

Thus, the farmer will require 2 bags of soil for his farm.  

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The percentage of automobile consumers who are under 50 years of age decreased approximately linearly from 58.8% in 1980 to 50.5% in 1995.
(A) Predict when the percentage will be 47%.
(B) Predict the percentage in 2005.

Answers

Using a linear function, we have that:

a) The percentage will be 47% during the year of 2001.

b) The predicted percentage in 2005 is of 44.97%.

What is a linear function?

A linear function is modeled by:

y = mx + b

In which:

m is the slope, which is the rate of change, that is, by how much y changes when x changes by 1.b is the y-intercept, which is the value of y when x = 0, and can also be interpreted as the initial value of the function.

The percentage in 1980 is considered as the initial amount, hence b = 58.8. In 15 years, the percentage decreased from 58.8% to 50.5%, hence the slope is given by:

m = (50.5 - 58.8)/15 = 0.5533.

Hence the percentage in t years after 1980 is given by:

P(t) = 58.8 - 0.5533t.

Item a:

This is t + 1980, for which P(t) = 47, hence:

P(t) = 58.8 - 0.5533t

47 = 58.8 - 0.5533t.

0.5533t = 11.8.

t = 11.8/0.5533

t = 21.3.

1980 + 21 = 2001, hence the percentage will be 47% during the year of 2001.

Item b:

2005 is 25 years after 1980, hence the percentage is P(25), given as follows:

P(25) = 58.8 - 0.5533x25 = 44.97%.

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Choose True or False, (T or F). Data are recorded observations used for explaining conditions of particular phenomenon​

Answers

Answer:

true

Step-by-step explanation:

this is absolutely true

What is 60 percent of 92?

1.53

5.52

15.3
O 55.2
49:03 mins pls help me with this

Answers

60 percent of 92 is 55.2

How to determine the percentage?

The statement is given as:

60 percent of 92

This means:

60% of 92

Express of as *

60% * 92

Evaluate the product

55.2

Hence, 60 percent of 92 is 55.2

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Celia needs 75% of the marks in an exam to pass. She gets 4/5 of the marks. Does she pass the course? Show your working to justify your answer

Answers

Answer:

Yes, she passes with 80%

Step-by-step explanation:

4 divided by 5 = 0.8

0.8 multiplied by 100 = 80%

80% is greater than the required 75% needed to pass

Answer:

Yes

Step-by-step explanation:

First lets establish the key points

We know she needs 75% to pass and she gets 4/5 of the marks

Lets make 4/5 a decimal 4/5 X 2/2 is 8/10 better know as .8

.75 = 75%

.8 = 80%

80% > 75%

Meaning She PASSED!!!

cos^2 x = (1 - cos 2x)/2 A. True B. False

Answers

We know that cos2x=cos²x-sin²x

=cos²x-(1-cos²x)         [since, cos²x+sin²x=1]

=cos²x-1+cos²x

=2cos²x-1

So, cos2x=2cos²x-1

Hence, cos²x= (1+cos2x)/2

Trigonometric Identities are useful whenever trigonometric functions are involved in an expression or an equation. Trigonometric Identities are true for every value of variables occurring on both sides of an equation. Geometrically, these identities involve certain trigonometric functions (such as sine, cosine, tangent) of one or more angles.

Most common trigonometric identities are:

- cos²x + sin²x = 1

- sec²x - tan²x = 1

- cosec²x - cot²x = 1

- cos2x = cos²x - sin²x

Therefore we get that the statement cos² x = (1 - cos 2x)/2 is false.

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I also dont get this :(

Answers

An equation is formed of two equal expressions. If x is increased by 5 then the value of y is increased by 10.

What is an equation?

An equation is formed when two equal expressions are equated together with the help of an equal sign '='.

Given that y=2x+1, now if the value of x increased by 5. then the value of y will be,

[tex]y_1=2(x+5)+1\\y_1 = 2x + 11[/tex]

Now if we compare y and y₁, then it can be said that if x is increased by 5 then the value of y is increased by 10.

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Find two positive numbers such that their sum is 60 and their product is a maximum. Select one: O a. 30 and 30 O b. 25 and 35 O c. 1 and 59 O d. 20 and 40​

Answers

Answer:

B: 25 and 35

Step-by-step explanation:

25 product 35 875

A. 30 x 30 = 900
B. 25 x 35 = 875
C. 1 x 59 = 59
D. 20 x 40 = 800

The biggest product is for 30 and 30

If you call one number x the other will be 60 - x
Product = x(60 - x) = 60x - x^2
This is a parabola with roots at 0 and 60
The maximum product is halfway between 0 and 60 ie when x = 30

A student wanted to find the sum of all the even numbers from 1 to 100. He said: The sum of all the even numbers from 1 to 100 is twice the sum of all the odd numbers from 1 to 100. The sum of all the odd numbers from 1 to 100 is 1002. Explain why each of these statements is incorrect. HELP ME ASAP

Answers

Statement 1

Twice the sum of the odd numbers would be:

[tex]2(1+3+5+\cdots+99)=2+6+10+\cdots+198[/tex], which is not equal to the sum of all the even numbers from 1 to 100.

Statement 2

The sum of all the odd numbers from 1 to 100 can be thought of as an arithmetic sequence containing 50 terms, with first term 1 and common difference 2. This means the sum of the series would be:

[tex]\frac{50}{2}[2(1)+(50-1)(2)]=2500[/tex]

which is not equal to 1002.

The statement 1 and the statement 2 are incorrect.

The sum of the arithmetic series of first term a₁ and common difference d will be s= n/2{2a₁+(n-1)d

Statement 1:

Given in statement 1, Twice the sum of the odd numbers would be:

2(1+3+5+7.......+99)=2+6+10+14+.....198

which is not equal to the sum of all the even numbers from 1 to 100.

Statement 2:

The sum of all the odd numbers from 1 to 100 can be calculated as follows where this is an arithmetic sequence of 50 terms, where the first term is 1 and the common difference is 2. This means the sum of the arithmetic series would be:

s= n/2{2a₁+(n-1)d}

putting the above formula

a₁=1

n=50

d=2

s= 50/2{2(1)+(50-1)2} = 25{2+98} =2500 ≠1002

which is not equal to 1002.

Therefore statement 1 and 2 are incorrect.

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If a and b are two distinct primes, the ab2 has ___ positive divisors.

Answers

The number ab², where a and b are prime numbers, has 6 divisors.

How many divisors are for the given expression?

Remember that any number can be written as a product of primes, for example, 15 can be written as:

15 = 3*5

Where 3 and 5 are primes.

Such that the divisors of 15 are the factors made with the primes on the right side.

So for the number:

N = a*b^2 = a*b*b

The divisors are:

a, b, a*b, b*b

And trivially, itself and 1, so there are a total of 6 divisors.

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three-quarters of a pile of bricks were used for a certain project. when two thirds of the reminder had been used, 50 bricks were left. how many bricks were there in the original pile?​

Answers

Answer:

600

Step-by-step explanation:

Let's consider this question using algebra.

Imagine the number of bricks in the original pile is [tex]x[/tex].

We are told that [tex]\frac{3}{4}[/tex] of the bricks are used for a project, meaning that [tex]\frac{3}{4} x[/tex] has been used, leaving us with [tex]\frac{1}{4}x[/tex] as our remainder.

Then, we are told that [tex]\frac{2}{3}[/tex] of the remainder are used to leave us with 50 bricks. This means that [tex]\frac{1}{3}[/tex] of the remainder is left, and this is equal to 50 bricks. This means that the remainder's original amount is equal to 150, because we are told that [tex]\frac{1}{3}[/tex] of the remainder is equal to 50.

So, we know that the remainder is 150, and we also know that the remainder is [tex]\frac{1}{4} x[/tex]. Let's now use these to form an equation.

[tex]\frac{1}{4} x = 150[/tex]

Because we know that a quarter of the original amount of bricks is equal to 150, we can multiply both sides of the equation by 4 to get the original amount of bricks in the pile.

[tex]x = 150 * 4 = 600[/tex]

So, there were 600 bricks in the original pile.

find the distance between the pair of points (7,6) and (4,10)​

Answers

Answer:

5 units

Step-by-step explanation:

to find out the answer for this you must first find the distance between 7 and 4 and then 6 and 10

then you would square them and then add them

lastly you would take the square root of that and youd have your answer

so

7 - 4 = 3

6 - 10 = -4 (just use 4)

3^2 + 4^2 = 9  + 16 = 25

then you take the square root of this

sqrt(25) = 5

that is your answer

To solve this problem, you will use the Distance Formula to find the distance between two coordinate points.

Set Up the Distance Formula

The Distance Formula is defined as follows:

[tex]d = \sqrt{(x_2 - x_1)^2 + (y_2 - y_1)^2}[/tex]

We must title our points by the standard coordinate naming system:

[tex](x_1, y_1) \ \text{and} \ (x_2, y_2)[/tex]

Therefore, our points can be labeled:

[tex]x_1 = 7[/tex][tex]y_1 = 6[/tex][tex]x_2 = 4[/tex][tex]y_2 = 10[/tex]

Substitute Known Values for Variables

Now, substitute the known values as the variables in the Distance Formula:

[tex]d=\sqrt{(4 - 7)^2 + (10 - 6)^2}[/tex]

You must know the BPEMDAS acronym, which stands for:

Brackets

Parentheses

Exponents

Multiplication

Division

Addition

Subtraction

Simplify the expression using BPEMDAS:

[tex]d=\sqrt{(-3)^2 + (4)^2}[/tex]

Remember that when a number is raised to the 2nd power, it is the same thing as multiplying the number by itself:

[tex]-3\times-3 = 9[/tex]

[tex]4\times4=16[/tex]

Simplify further by removing the parentheses:

[tex]d=\sqrt{9+16}[/tex]

Compute the additive operation:

[tex]d=\sqrt{25}[/tex]

Simplify the Radicand

The number that is placed inside of a square root symbol (or a radical symbol) is referred to as the radicand.

In this situation, the radicand is 25.

To simplify the radicand, you may either use a calculator to compute the result, or you can determine which number raised to the 2nd power will result in a final answer of 25.

In this case, we can determine that 5² will result in a final answer of 25.

[tex]5^{2} = 25[/tex]

The final answer is 5 units.

7. Sapna travelled 48 km to meet her parents. She travelled the first 18 km by car and the remaining distance by train. Find the fraction of the journey sapna travelled by car and train​

Answers

The fraction of the journey Sapna traveled by car and train is 3/8 and 5/8 respectively.

We know that fraction is an expression in mathematics used to denote the division of two whole numbers.

Given that the total distance = 48 km.

The distance Sapna traveled by car = 18 km.

So, the fraction is = distance traveled by car/total distance = 18/48 = 3/8

The distance Sapna traveled by train = 48 - 18 km = 30 km.

So, the fraction is = distance traveled by train/total distance = 30/48 = 5/8

Therefore the fraction of the journey Sapna traveled by car and train is 3/8 and 5/8 respectively.

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Solve for x:

5(1 – x) = 20

x = __

Answers

[tex]5(1-x)=20\\5-5x=20\\5x=-15\\x=-3[/tex]

Hii!

__________________________________________________________

[tex]\stackrel\star{\rightsquigarrow\circ\boldsymbol{\underbrace{Answer}}}\circ\leftharpoonup[/tex]

The value of x is -3! ^^

[tex]\stackrel\star{\rightsquigarrow\circ\boldsymbol{\underbrace{Explanation}}}\circ\leftharpoonup[/tex]

[tex]\bullet[/tex] First multiply 5 times 1 and -x

[tex]\twoheadrightarrow\sf 5(1-x)=20[/tex]

[tex]\twoheadrightarrow\sf 5-5x=20[/tex]

[tex]\bullet[/tex] Now subtract 5 from both sides

[tex]\twoheadrightarrow\sf -5x=15[/tex]

[tex]\bullet[/tex] Now divide both sides by -5

[tex]\twoheadrightarrow\sf x=-3[/tex]

--

Hope that this helped! Best wishes.

--

What is the solution to this equation? 2ln4+lnx=3ln2+ln(x+1)

Answers

Answer:

[tex]x=1[/tex]

Step-by-step explanation:

Given equation:

[tex]2 \ln 4+\ln x=3 \ln 2+\ln(x+1)[/tex]

[tex]\textsf{Apply the power law}: \quad n \ln x = \ln x^n[/tex]

[tex]\implies \ln 4^2+\ln x=\ln 2^3+\ln(x+1)[/tex]

Simplify:

[tex]\implies \ln 16+\ln x=\ln 8+\ln(x+1)[/tex]

Subtract ln 8 from both sides:

[tex]\implies \ln 16+\ln x- \ln 8=\ln(x+1)[/tex]

Subtract ln x from both sides:

[tex]\implies \ln 16-\ln 8=\ln(x+1)-\ln x[/tex]

[tex]\textsf{Apply the quotient law}: \quad \ln x - \ln y = \ln \frac{x}{y}[/tex]

[tex]\implies \ln \left\dfrac{16}{8}\right = \ln \left(\dfrac{x+1}{x}\right)[/tex]

Simplify:

[tex]\implies \ln 2 = \ln \left(\dfrac{x+1}{x}\right)[/tex]

[tex]\textsf{Apply the equality law}: \quad \textsf{if }\: \ln x= \ln y\:\textsf{ then }\:x=y[/tex]

[tex]\implies 2=\dfrac{x+1}{x}[/tex]

Multiply both sides by x:

[tex]\implies 2x=x+1[/tex]

Subtract x from both sides:

[tex]\implies x=1[/tex]

3.
2. The diagram below is divided into equal parts. Which fraction of the parts is
white?
Mark only one oval.
Option 1
Option 3
37
314
I
Option 2
47
Option 4
4/3

Answers

Step-by-step explanation:

simply count them.

there are 7 little rectangles building the whole.

from these 7, 4 are gray and 3 are white.

so, 3 of 7 are white.

that means,

3/7 of all the parts are white.

Determine whether each ordered pair is a solution to the inequality −7x−y>2.

Answers

Answer:

[tex]x < - \frac{2 + y}{7} [/tex]

Step-by-step explanation:

[tex] - 7x > 2 + y \\ x < - \frac{2 + y}{7} [/tex]

If angle 1= 105°, angle 12= (3x + 15)°, and angle 7 = (8y-5)°, determine the values
of x and y?

Answers

The value of the variable x is 30° and the value of the variable y is 10°.

The missing diagram is attached below.

What is an angle?

The angle is the distance between the intersecting lines or surfaces.

Corresponding angle – If two lines are parallel, then the third line. The corresponding angles are equal angles.

Vertically opposite angle – When two lines intersect, then their opposite angles are equal.

Linear angle – If the total of two angles is 180 degrees, they are said to be linear angles.

If angle ∠1 = 105°, angle ∠12 = (3x + 15)°, and angle ∠7 = (8y-5)°.

∠1 = ∠5 = ∠9 = 105° (corresponding angles)

∠1 = ∠4 = 105° (Vertical opposite angles)

∠1 + ∠2 = 180° (linear angle)

       ∠2 = 75°

∠2 = ∠3 = 75° (Vertical opposite angles)

∠3 = ∠8 = ∠12 = 75° (corresponding angles)

Then the value of x and y will be

   ∠9 = ∠12

   ∠1 = ∠12

105° = (3x + 15)°

  3x = 90°

    x = 30°

∠6 = ∠7

75° = (8y – 5)°

8y = 80°

  y = 10°

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If the hypotenuse of a 30-60-90 degree triangle is 14, what is the short leg?

Answers

Answer:

7 units

Step-by-step explanation:

The short leg is opposite the 30 degree angle

sin 30 = opposite side/ hypotenuse

         

Hypotenuse * sin 30 = opposite side = 14 * 1/2 = 7 units

If you have 100 apples and you take 30 how many do you have?

Answers

Answer:

70 (100-30)

Rambling (Unrelated):

Although if you take 30 apples from your own stockpile of 100 apples, you still have 100 apples

100 apples

4x+7-(x+6)=68
Solve.

Answers

[tex]4x + 7 - (x + 6) = 68 \\ \\ 4x + 7 - x - 6 = 68 \\ \\ 3x + 1 = 68 \\ \\ 3x = 68 - 1 \\ \\ 3x = 67 \\ \\ x = \frac{67}{3} \\ \\ x = 22.3[/tex]

The value of x is 67/3 or 22.3 .

Hi!

__________________________________________________________

[tex]\rightsquigarrow\circ\boldsymbol{Answer}\circ\leftharpoonup[/tex]

x=

[tex]\rightsquigarrow\circ\boldsymbol{Explanation}\circ\leftharpoonup[/tex]

First let's distribute the minus sign.

[tex]\twoheadrightarrow\sf 4x+7-x-6=68[/tex]

[tex]\bullet[/tex] Add 6 to both sides

[tex]\twoheadrightarrow\sf 4x+7-x=74[/tex]

[tex]\bullet[/tex] Subtract the x's

[tex]\twoheadrightarrow\sf 3x+7=74[/tex]

[tex]\bullet[/tex] Subtract 7 from both sides

[tex]\twoheadrightarrow\sf3x=67[/tex]

[tex]\bullet[/tex] Divide both sides by 3

[tex]\twoheadrightarrow\sf x=\cfrac{67}{3}[/tex]

[tex]\bullet[/tex] Great job! We solved for the variable

--

Hope that this helped! Best wishes.

[tex]\textsl{Reach far. Aim high. Dream big.}\\\boldsymbol{-Greetings!-}[/tex]

--

Students returning to a secondary school have to pass through a check point at the rate of 50 per though. The average time for checking is 35 seconds. The arrival rate and service rate follow a Poisson distribution. There is a delay and the principal is willing to include another check point to reduce the average time of checking to 28 seconds if the idle time is less than 10% and the average queue length is more than 10 students, check whether the introduction of an extra check point is justifiable.

Answers

I think its 101010183727382

The average queue length is greater than 10 students, the introduction of an extra checkpoint is justifiable.

How to explain the information?

Since the arrival rate and service rate follow a Poisson distribution, we can use the Poisson arrival rate formula to calculate the average queue length.

Average queue length = (arrival rate * service time) / (1 - arrival rate * service time)

For the given problem, the average queue length is:

Average queue length = (50 * 35) / (1 - 50 * 35)

= 175

Since the average queue length is greater than 10 students, the introduction of an extra checkpoint is justifiable.

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Determine whether each ordered pair is a solution to the inequality x+5y<2.



Select all that apply:

(−8,−1)
(−1,0)
(4,2)
(9,6)
(0,10)

Answers

Two points ( -8,-1) and ( -1,0) are the solutions and the other points are not the solution to the inequality.

What is inequality?

The relation between two expressions that are not equal, employing a sign such as ≠ ‘not equal to’, > ‘greater than, or < ‘less than.

Given inequality is:-

x + 5y  <  2.

We will check all the points for the inequality:-

(−8,−1) →  x + 5y  <  2.  →  -8 +(5 x -1) < 2  →  -13 < 2 It is inequality

(−1,0)   → x + 5y  <  2   →   -1 < 2 It is inequality

(4,2)    → x + 5y  <  2   →    14 < 2  wrong

(9,6)    → x + 5y  <  2   →    39 < 2 wrong

(0,10)  →  x + 5y  <  2  →    50 < 2 wrong

Therefore the two points ( -8,-1) and ( -1,0) are the solutions and the other points are not the solution to the inequality.

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You have loaned a friend $100 and will charge him 5% annua simple interest when he pays it back.

Answers

The annual interest would be $5 if you have loaned a friend $100 and will charge him 5% annually and the total amount would be $105.

What is simple interest?

It is defined as the interest based on the principal amount, it does not include the compounded amount. The interest calculates on the initial amount of borrowed amount.

We have:

You have loaned a friend $100 and will charge him 5% annually.

As we know:

A = P(1 + rt)

P = $100

r = 5% = 0.05

t = 1 years

A = 100(1 + 0.05×1)

A = $105

I = A - P = 105 - 100 = $5

Thus, the annual interest would be $5 if you have loaned a friend $100 and will charge him 5% annually and the total amount would be $105.

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