1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
seropon [69]
3 years ago
5

James wants to invest $12,000. He can invest the money at 7.2% simple interest for 30 yr or he can invest at 6.8% with interest

compounded continuously for 30 yr. Which option results in more total interest?
7.2% simple interest results in more total interest
6.8% compounded continuously results in more total interest
Mathematics
1 answer:
Sever21 [200]3 years ago
4 0

Over time, compound interest at any rate will outperform simple interest. When the rates are nearly equal to start with, compound interest will be greater in very short order. Here, it takes less than 1 year for compound interest to give a larger account balance.

In 30 years, the simple interest will be

... I = P·r·t = 12,000·0.07·30 = 25,200

In 30 years, the compound interest will be

... I = P·(e^(rt) -1) = 12,000·(e^(.068·30) -1) ≈ 80,287.31

_____

6.8% compounded continuously results in more total interest

You might be interested in
David and Josh are both practicing for an upcoming swim tournament. Every week, David swims for 3x hours at an average speed of
Ugo [173]
3x = 5(x-4)

 I am not sure about the equal sign though.
5 0
3 years ago
Read 2 more answers
Can someone please help!!!
Inga [223]
It is simple, each y=3x so, lets just say that you have 8y, that would be equal to 24x. In other words, just multiply the number of y's, by 3
3 0
3 years ago
3.582x 10(-6) in standard form
mario62 [17]
Move the decimal 6 times to the right (when it's negative) and make sure to put 0's.

Answer: 3582000.

:)
7 0
3 years ago
Read 2 more answers
Whats the answer easy 20 points
3241004551 [841]

Step-by-step explanation:

Option C is the correct one.

I hope it is helpful.Give brainliest answer if u satisfied with my answer.

8 0
3 years ago
Read 2 more answers
Which property is shown? 2.3 + (-1.2 + 9.6) = (2.3+ (-1.2)) + 9.6
abruzzese [7]

Answer:

Associative property of addition

Step-by-step explanation:

A change of grouping is the associative property of addition.

6 0
3 years ago
Other questions:
  • What is a quotient ??? I do not understand
    9·2 answers
  • Evaluate a + 4 when a = 7
    11·2 answers
  • Find the value of x in each quadrilateral.
    13·1 answer
  • Mrs. Low has 12 bags, each containing 25 sweets. She divides the sweets among 30 boys equally. How many sweets does each boy get
    11·1 answer
  • Please please please help!! 30 points!!
    8·2 answers
  • Which strategy best explains how to solve this problem?
    11·2 answers
  • 5(4x – 2x) + 12 = 4x – 2
    11·1 answer
  • Need all answers for 1, 2, 3, 4 , 5. Who ever answers them first will be mark brainliest!
    15·1 answer
  • Angle a=126°. What is the measure of angle b? Explain how you calculated your answer.
    6·1 answer
  • For what interval(s) is the function negative?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!