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revprev | Admin | Nov 17'23 at 21:50 | +19 | m | |
revcur | Admin | (Created page with "Eric’s (compound) interest in the last 6 months of the 8th year is <math>100(1 + \frac{i}{2})^{15} \frac{i}{2}</math>. Mike’s (simple) interest for the same period is <math>200 \frac{i}{2}</math>. Thus <math display="block"> \begin{align*} \left(1+{\frac{i}{2}}\right)^{\frac{5}{2}}{\frac{i}{2}} &= 200\frac{i}{2} \\ \left(1+{\frac{i}{2}}\right)^{\frac{15}{2}} &= 2 \\ 1+\frac{i}{2} &=1.04739 \\ i =0.09459 &=9.46\%. \end{align*} </math> {{soacopyright | 2023 }}") | Nov 17'23 at 21:50 | +470 |