Calculate the value of

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Devra invested k US dollars (USD) in an account that pays a nominal annual interest rate of 3.1 %, compounded monthly. After 6 years she has 1100 USD in the account.

Calculate the value of k. Give your answer to 2 decimal places.

Devra then bought a computer that cost 1100 USD and sold it 4 years later for 350 USD.

Find the rate at which the computer depreciated per year. Give your answer as a % correct to 2 decimal places.

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