Assuming he had not dealt with the bank offering plan B before, he has nothing deposited two years back. Hence plan B only gives him only 0.2% annual interest for his deposit.
Plan A gives 0.25% for his deposit all the time.
So plan A is more advantageous.
For durations,
To reach $1,000,000 from $100,000, the money needs to grow 10 fold, or
(1+i)^n=10
n=log(10)/log(1+i).
So for plan A:
n=log(10)/log(1.0025)=922.18 years, while for
plan B
n=log(10)/log(1.0020)=1152.44 years.
Hope the bank(s) still exist at that time.
<h3>
Answer: 1</h3>
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Explanation:
The rule is
x^0 = 1
where x is nonzero (ie, not equal to zero). So whatever number you raise to the zeroth power, the answer is always 1.
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Let's see why this rule works
x^1 = x ... raising something to the first power is itself
(x^1)/x = x/x ... divide both sides by x
(x^1)/x = 1 .... turn the 'x/x' into 1
(x^1)/(x^1) = 1 .... rewrite the second 'x' as 'x^1'
x^(1-1) = 1 ... subtract exponents
x^0 = 1
Answer:
m<1 < m<2
Step-by-step explanation:
m<1 < m<2 because m<3 < m<4
<h3>Hope it is helpful...</h3>
Assuming each employee works 40 hours a week:
3 * 20.93 * 40 = 2511.60
7 * 19.68 * 40 = 5510.40
13 * 23.00 * 40 = 11960.00
2511.60 + 5510.40 + 11960.00 = $ 19,982.00