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.
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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.
Answer:
The area of the shape can be divided into the area of the rectangle, and the area of the semi-circle.
The area of the rectangle can be found by
The area of a semi-circle can be found with the formula where r is the radius.
Since we know the diameter of the semi-circle is 4,
the radius will be 4 ÷ 2 = 2.
Therefore, the area of the semi-circle is
Therefore, the area of the shape is or
(3 decimal places)