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stealth61 [152]
3 years ago
9

Generally speaking bonds issued in the u.s. pay interest on a(n) _____ basis.

Social Studies
1 answer:
IceJOKER [234]3 years ago
7 0
The answer is ten year.
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Who will have the most money to spend on a new boat at the end of the five years? Use the formula I = P r t for simple interest
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Answer:

Keir will have the most money to spend on a new boat at the end of the five years; $1,440

Explanation:

Three friends decide that they each want to be able to buy a new boat in five years. Vanore puts $1,000 in a savings account with a simple interest rate of 4.5%. Keir invests $1,200 in a standard savers account with a simple interest rate of 4%. Omar invests $950 in a junior achievers account with a 6% annual compound interest rate. Who will have the most money to spend on a new boat at the end of the five years?

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I = p * r * t

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After 5 years, Vanore will have $1000 + $225

= $1225

Keir invests $1,200 in a standard savers account with a simple interest rate of 4%

Keir:

I = p * r * t

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Omar:

A = P (1 + r)^t

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= 950(1.06)^5

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A = $1,271.1

After 5 years, Omar will have $1,271.1

Keir will have the most money to spend on a new boat at the end of the five years; $1,440

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