Anna’s bank gives her a loan with a stated interest rate of 10.22%. How much greater will Anna’s effective interest rate be if t
2 answers:
The difference between the interest is compounded daily, rather than compounded monthly is . Option (d) is correct.
Further explanation:
Given:
Anna’s bank gives her a loan with a stated interest rate of .
Explanation:
Anna’s bank gives her a loan with a stated interest rate of
The difference between the effective interest rate be if the interest is compounded daily, rather than compounded monthly can be calculated as follows,
The difference between the interest is compounded daily, rather than compounded monthly is . Option (d) is correct.
Option (a) is not correct.
Option (b) is not correct.
Option (c) is not correct.
Option (d) is correct.
Learn more:
- Learn more about inverse of the function brainly.com/question/1632445.
- Learn more about equation of circle brainly.com/question/1506955.
- Learn more about range and domain of the function brainly.com/question/3412497
Answer details:
Grade: High School
Subject: Mathematics
Chapter: Simple interest
Keywords: nominal rate, compounded daily, effective rate, compounded monthly, Anna’s bank, Anna, bank, loan, percentage, interest rate, Principal, invested, interest rate, account, effective interest rate, total interest, amount.
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Answer: C) y ≥ 3x - 2;
<u>Step-by-step explanation:</u>
Blue line:
y-intercept (b) = -2
slope (m) is 3 up, 1 right = 3
shading is above
⇒ y ≥ 3x - 2
Yellow line:
y-intercept (b) = 3
slope (m) is 1 up, 2 right =
shading is below