If you are investing money, would you rather deposit into an account that earns simple interest or compound interest?
2 answers:
Answer:
Compound interest.
Step-by-step explanation:
-In compound interest, your money grows more rapidly as the interest already earned also earns a further interest over time for the term of the investment.
-While in simple interest, only the principal amount invested will earn interest over the investment's term>
#Let's say you invest $100 each in A(earning simple interest) and B(earning compound interest), take the term of both investments to be 5 yrs with both subject to an annual rate of 10%:
-Get the investment amounts in both accounts at the end of 5 yrs:
Hence, you notice that your earn more in compound interest keeping all other conditions similar.
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Answer:
56 ways.
Step-by-step explanation:
This question is solved by using combinations and permutations chapters in the math book.
To put it simply, we need to find the number of 3 horse combinations we can make from 8 horses. This requires the combinations formula:
here n is the total number of objects to choose from, and r is the number of objects we require in the combination or group.
Since there are 8 horses, n= 8
Since we need to choose only 3 of them, and order does not matter, r= 3
Solving the equation above using these inputs gives us 56 unique ways we can choose the three winners.