1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alona [7]
2 years ago
7

A man invests $8 000 at 12% simple interest for 3 years. If he invests the same amount of money for the same time period at 12%

compound interest, what is the difference between the two investments?
Mathematics
1 answer:
AleksandrR [38]2 years ago
5 0

Answer:

  $359.42

Step-by-step explanation:

The difference in the investment values can be computed by making use of the formulas for the account balance in each case.

  compound interest: A = P(1 +r)^t . . . . interest at rate r compounded annually

  simple interst: A = P(1 +rt) . . . . simple interest at rate r

__

The account earning simple interest will have a balance of ...

  A = $8000(1 +0.12×3) = $10,880

The account earning compound interest will have a balance of ...

  A = $8000(1 +0.12)^3 ≈ $11,239.42

The difference between the two investments is ...

  $11,239.42 -10,880 = $359.42

You might be interested in
Your suppose to look at the graph. <br> If you could help me that would be great!
kozerog [31]

Answer:

B) $3 per gallon

Step-by-step explanation:

You can see on the graph that for 1 gallon of gasoline, it is $3.

Hope this helped!

Please mark as brainliest!

4 0
2 years ago
Joe says that x
irga5000 [103]
The equations x+5x=16
and x+5x+25=16
No, the equations are not equal. In order for an equation to be equal the equation x+5x=16 contains 25 less than the second equation.
6 0
3 years ago
Jared is using a 10ft rope
SVEN [57.7K]
Nice;-;

does jared need help carrying it
6 0
3 years ago
Sarah Worker is making a presentation. She has 81 people in a workshop. She selects 64. The average budget expense for groceries
Komok [63]
True is the answer hope i help
6 0
3 years ago
Read 2 more answers
Which side lengths form a right triangle?
kakasveta [241]

Answer:

C) 2,2,2.82842712

Step-by-step explanation:

7 0
2 years ago
Read 2 more answers
Other questions:
  • Nashota pays $30 each month on a credit card that charges 1.4% interest monthly. She has a balance of $450. The balance at the b
    7·1 answer
  • Whats 11.00001-1.11234
    7·1 answer
  • A board is 66.04 centimeters long How long is the board in inches. 1 inch is 2.54 centimeters.
    6·2 answers
  • What do you look for when solving name word problem
    13·1 answer
  • 4000 is 1/10 of what number
    15·2 answers
  • Assume Plant B received sunlight, and its rate of change was 1.6 inches a week instead of 1.4 inches per week. Would it be talle
    7·2 answers
  • Set a is integers and B is whole numbers which one is correct...please help​
    9·1 answer
  • Which is greater 2thousandths + 4 hundreths or 0.036
    15·2 answers
  • Use the information provided to write the standard form equation of each ellipse.
    5·1 answer
  • 5. Use the vertical method to multiply two trinomials.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!