Answer:
No, equivalent quarterly rate will be approx 1.75%
Step-by-step explanation:
Given that Chan deposited money into his retirement account that is compounded annually at an interest rate of 7%.
We know that there are 4 quarters in 1 year.
So to find that equivalent quarterly we will divide given yearly rate by number of quarters.
That means divide 7% by 4.
which gives 1.75%.
But that is different than Chan's though of 2% quarterly interest.
Hence Chan is wrong.
Answer:
27 pages in 1 hour
Step-by-step explanation:
9*3 = 27
Answer:
i was trying to help u but ok delete my answer
Step-by-step explanation:
Answer: After working for 33
hours a week
Step-by-step explanation:
Let us write equations to represent these two places. Let x be hours worked and y be money earned.
Tim Hortons:
$200 + $5x = y
McDonalds:
$300 + $2x = y
Now, to find the conditions of which Tim Hortons is the better employer (on the basis of money earned) we must find the interval that Tim Hortons pays more. This can be found by setting up another equation, or by graphing. I have shown both. <em>See attached for the graph</em>.
$200 + $5x > $300 + $2x
$5x > $100 + $2x
$3x > $100
x > 
x > 33.3334
Tim Hortons is the better employer after an employee has worked for 33
hours a week.
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