Solve for x and y.

Mathematics

1 answer:

belka [17]3 years ago

4 0

Can you please provide us with the equation?

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suppose that you have 3000$ to invest. which investment yields the greater return over a 10 year period: 8.04% compounded daily

Ksenya-84 [330]

Answer: Option A: 8.04% compounded daily

<u>Step-by-step explanation:</u>

$A = P\bigg(1+\dfrac{r}{n}\bigg)^{nt}\qquad where\\\\\bullet A = \text{accrued amount (principal plus interest earned)}\\\bullet P = \text{principal (amount invested)}\\\bullet r = \text{rate (in decimal form)}\\\bullet n=\text{number of times compounded in one year}\\\bullet t=\text{time (number of years)}\\\\\\Option\ A:\\A = \text{unknown}\\P=3000\\r=8.04\%\rightarrow 0.0804\\n=\text{daily}\rightarrow 365\\t=10\\\\A=3000\bigg(1+\dfrac{0.0804}{365}\bigg)^{365\times 10}\\\\.\ =\$ 6,702.79$

$Option\ B:\\A = \text{unknown}\\P=3000\\r=8.1\%\rightarrow 0.081\\n=\text{quarterly}\rightarrow 4\\t=10\\\\A=3000\bigg(1+\dfrac{0.081}{4}\bigg)^{4\times 10}\\\\.\ =\$ 6,689.37$