Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.
Step-by-step explanation:
Giving the following information:
Joshua:
Initial investment (PV)= $750
Interest rate (i)= 0.0341/4= 0.008525
Number of periods (n)= 18*4= 72 quarters
Josiah:
Initial investment (PV)= $750
Interest rate (i)= 0.0285
Number of periods (n)= 18 years
To calculate the future value of each one, we need to use the following formula:
FV= PV*(1 + i)^n
Joshua:
FV= 750*(1.008525^72)
FV= $1,381.98
Josiah:
FV= 750*(1.0285^18)
FV= $1,169.74
Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.
Answer:
y-6 = -2(x+1)
Step-by-step explanation:
First we need to find the slope
m = (y2-y1)/(x2-x1)
= (-2-6)/(3--1)
= (-2-6)/(3+1)
= -8/4
= -2
Then we can point slope form where
y -y1 = m(x-x1)
where m is the slope and x1,y1 is a point
y-6 = -2(x--1)
y-6 = -2(x+1)
Answer:
first one is right
Step-by-step explanation:
10% of 12 is 1.2 and 10% of 20.1 is 2.01
