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erica [24]
3 years ago
7

Noah wants to put $1,000 in a savings account with a 1.5% annual interest rate. How much more money will he have after one year

if it is compounded monthly versus no compounding?
Mathematics
1 answer:
NeX [460]3 years ago
3 0
There are two types of interest: Simple interest and compounding interest:

Simple interest: F = P(1+in)
Compounding interest: F = P(1+i)ⁿ

The compounding interest is always bigger than simple interest for a given amount of n time. The effective interest rate is

Effective interest rate = 1.5%/year * 1 yr/12 months = 0.125% per month

Since there are 12 months in 1 year, n= 12. Then i = 0.125/100 = 0.00125

Difference = Compounded Interest - Simple Interest
Difference = P(1+i)ⁿ - P(1+in) = 1000(1+0.00125)¹² - 1000(1+0.00125*12)
Difference = $0.104

You will only have $0.104 more money than the simple interest.
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Solve for x<br> HELLLLP​
charle [14.2K]

Simplifying

25x + -15 = 2y

Reorder the terms:

-15 + 25x = 2y

Solving

-15 + 25x = 2y

Solving for variable 'x'.

Move all terms containing x to the left, all other terms to the right.

Add '15' to each side of the equation.

-15 + 15 + 25x = 15 + 2y

Combine like terms: -15 + 15 = 0

0 + 25x = 15 + 2y

25x = 15 + 2y

Divide each side by '25'.

x = 0.6 + 0.08y

Simplifying

x = 0.6 + 0.08y

3 0
3 years ago
PLS HELP MEE this one math problem:(
Bingel [31]

Answer:

1

Step-by-step explanation:

Since, line is intersecting y axis at (0, 1).

Therefore, y-intercept of the graph is 1.

7 0
3 years ago
Read 2 more answers
Kara has four boy cousins and three girl cousins. Write a fraction to represent the part of her cousins that are girls.
earnstyle [38]

Answer:

it would be 3/7

Step-by-step explanation:

3+4=7 3 cousins out of the seven are girls

6 0
3 years ago
What is the minimum number of clients the travel agent should survey? Note that z=1.96 for a 95% confidence interval.
slega [8]

Answer:

121

Step-by-step explanation:

Given data as per the question

Standard deviation = \sigma = 840

Margin of error = E = 150

Confidence level = c = 95%

For 95% confidence, z = 1.96

based on the above information, the minimum number of clients surveyed by the travel agent is

n = (\frac{z\times \sigma}{E})^2

=  (\frac{1.96\times 840}{150})^2

= 120.47

= 121

hence, the 121 number of clients to be surveyed

Therefore we applied the above formula to determine the minimum number of clients

4 0
3 years ago
the length of a rectangle is 3cm more than the width. find the length and the width if the perimeter of the rectangle is 98cm.
laila [671]

The perimeter of a rectangle is <u>length + length + width + width</u>.

We know that the length of a rectangle is 3cm more than its width, which gives us the equation:  (l for length and w for width)

l = 3 + w

We also know that the perimeter of the rectangle is 98cm, which gives us the equation:

98 = 2l + 2w         (equation for perimeter of a rectangle as noted above)

We can divide both sides of this equation by 2 to get:

49 = l + w

Now we'll stick l = 3 + w into the above equation, which gives us:

49 = 3 + w + w

which simplifies to 49 = 3 + 2w.

Now we'll subtract 3 from both sides:

49 - 3 = 46

3 + 2w - 3 = 2w

which gives us 46 = 2w.

Dividing both sides by 2 gives us 23 = w.

Substituting w = 23 into the equation l = 3 + w gives us:

l = 3 + 23

l = 26cm.

Let's check our answer.  26cm is 3cm more than 23cm.  26cm + 26cm + 23cm + 23cm gives us 98cm.  The length is 26cm and the width is 23cm.


7 0
3 years ago
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