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scoundrel [369]
3 years ago
6

A local bank in town offers two types of savings plan with different interest rates to customers. Plan A offers an annual intere

st rate of 0.25% (0.0025) of the amount deposited. Plan B offers an annual interest of 0.2% of the amount deposited in the current year and 0.1% of the amount deposited two years back. Plan B will give 0.3% only for the first year of deposit. EXCEL Based on a retirement research article stated in a magazine, a minimum sum of $1 000 000 is required for one to retire comfortably. After reading the article, Ah Seng decides to deposit his $100 000 into the bank this year. Which plan should Ah Seng choose so that he is able to hit the $1 000 000 as quickly as possible without taking out his deposit at any point in time?
Mathematics
1 answer:
scoray [572]3 years ago
6 0
Assuming he had not dealt with the bank offering plan B before, he has nothing deposited two years back.  Hence plan B only gives him only 0.2% annual interest for his deposit.
Plan A gives 0.25% for his deposit all the time.
So plan A is more advantageous.

For durations, 
To reach $1,000,000 from $100,000, the money needs to grow 10 fold, or
(1+i)^n=10
n=log(10)/log(1+i).

So for plan A:
n=log(10)/log(1.0025)=922.18 years, while for

plan B
n=log(10)/log(1.0020)=1152.44 years.
 
Hope the bank(s) still exist at that time.
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Help me please!!!! The question is in the picture^^^
Aleksandr [31]

Answer:

7,173

x = 7

Step-by-step explanation:

Within the question it gives two examples.

x = 0 corresponds to 2000

x = 1 corresponds to 2001

If you pay close attention the x-value is always the same as the last digits in the year. So with 2007 the last digit is 7, which then leads us to determine that

x = 7

f (x) = -327 (7) + 9462

f (x) = -2289 + 9462 = 7173

6 0
3 years ago
Dave receives a salary of $200 a week plus a commission of 10% of his weekly sales. An equation y=mx+b represents Dave’s weekly
eduard
<span><u><em>Answer:</em></u>
Dave makes $350 

<u><em>Explanation:</em></u>
In order to find this answer, we must first establish the equation for his earnings.
<u>We use slope intercept form:</u>
 y = mx + b,
where m = slope and b = y-intercept.

Since the problem states that his commission percentage is the slope and his base salary is the y-intercept, we can use them in the equation <u>to get the following: </u>
y = 0.1x + 200.

Now knowing that the x is the amount he sells, we can use the $1500 as x to find his total pay for the week:.
y = 0.1(1500) + 200,
y = 150 + 200,
y = 350. </span>
6 0
2 years ago
Read 2 more answers
PLEASE HELP
Marat540 [252]

Answer:

Triangle DEF is a right, scalene triangle. It is not isosceles, obtuse, acute, or equilateral

Step-by-step explanation:

All we know about m and n are that they are not equal to each other and they are positive. This was given in the problem. See image. Once it is graphed you can see on the graph the lengths of DE and EF. Use Pythagorean theorem to calculate DF. see image.

DE is horizontal and EF is vertical, so you can see their slopes or calculate using a formula. Calculate the slope of DF. Slope is y-y on top of a fraction and x-x on the bottom of the fraction.

Lastly, use midpoint formula to find the midpoints. Average the x's and average the y's to find the x- and y-coordinates of the midpoints. See image.

Finally, DEF is a right triangle. The graph as well as the slopes show us that DE and EF form a right angle. So DEF must be a right triangle (and not obtuse nor acute) We were told that m doesNOT equal n, so the triangle cannot have two equal sides, so it cannot be isosceles (2 equal sides) nor equilateral (3 equal sides) It has 3 different lengths of sides; that is called scalene.

4 0
2 years ago
WILL MARK BRAINLIEST!!!!!!!! :))))))))))))))))
lukranit [14]

Answer:

(A) No solution

(B) One solution

(C) One solution

(D) One solution

(E) No solution

Please tell me if this is incorrect. I hope this helps!

6 0
3 years ago
Evaluate the equation.
Tomtit [17]

Answer:

C

Step-by-step explanation:

193b=212.3

193b/193=212.3/193

(divide by 193 to get the value of b)

193 cancels 193

b= 1.098445596

(round off to one decimal place)

b=1.1

Hope its helps ❤️

3 0
2 years ago
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