Answer:
Difference= $3,090.15 in favor of compounded interest
Step-by-step explanation:
Giving the following information:
Present value (PV)= $8,500
Ineterest (i)= 0.025/12= 0.00208
Number of periods (n)= 360 months
<u>We will calculate the future value of each option and determine the difference:</u>
<u>Simple interest:</u>
FV= (PV*i*n) + PV
FV= (8,500*0.00208*360) + 8,500
FV= $14,864.8
<u>Compounded interest:</u>
FV= PV*(1+i)^n
FV= 8,500*(1.00208^360)
FV= $17,958.95
Difference= $3,090.15
Answer:
A, C, D, and E are all functions
Step-by-step explanation:
Answer:
17/3 = 68/12
Step-by-step explanation:
17/3 =? 68/12
Get a common denominator of 12
17/3 * 4/4
68/12
They are equal so this is true
Answer:31
Step-by-step explanation:
You subtract 81 and 50
