If you keep getting money he wont catch up, but if not he'll get $7.14 a day up to $100. He will be pass you so you will take out some days so you both are at $75 on the 4 day of the next day you guys will be close he will have $78.56.
Answer:
30%
Step-by-step explanation:
Answer:
3. B
4. D
Step-by-step explanation:
3. The y-intercept is -4 and the slope is positive 2.
4.Substitute the values and check
Answer:
c
Step-by-step explanation:
Answer:
Option D
Step-by-step explanation:
To calculate compound interest we will use the formula :

Where,
A = Amount on maturity
P = Principal amount = $3000
r = rate of interest = 8.4% = 0.084
n = number of compounding period = Monthly = 12
t = time = 1 year
Now put the values in the formula.

= 
= 3000(1.007)¹²
= 3000 × 1.08731066
= 3261.93198 ≈ $3261.93
While the other bank compounds interest daily.
Therefore, n = 365
Now put the values in the formula with n = 365



= 3000 × 1.08761958
= 3262.85874 ≈ $3262.86
Difference in the ending balance = 3262.86 - 3261.93
= $0.93
The difference in the ending balances of both CDs after one year would be $0.93.