1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lisabon 2012 [21]
3 years ago
11

Kelsey has $5000 to invest and she is trying to decide between two banks. The second national bank is paying 3.5% interest compo

unded continuously. The third national bank is paying 3.8% interest compounded monthly. Find the amounts possible after 7 years at each bank. Which bank should Kelsey choose and why?
Mathematics
2 answers:
Nina [5.8K]3 years ago
5 0

Answer:

Monthly Compounding

Total = principal * (1 + rate / 12) ^ years * 12

Total = 5,000 * (1 + (.038/12) )^84

Total = 5,000 * 1.30418682

Total = 6,520.93

Continuous Compounding

Total = principal * e ^ (rate * years)

Total = 5,000 * 2.718281828459 ^ (.035 * 7)

Total = 5,000 * 2.718281828459  ^ (0.245 )

Total = 5,000 * 1.2776213132

Total =  6,388.11

So, Kelsey should choose the monthly compounding bank.

Step-by-step explanation:

jeyben [28]3 years ago
3 0

Answer: 851.44

Step-by-step explanation: try to do the math

You might be interested in
HELP ME PLEASE-
polet [3.4K]

Answer:

Step-by-step explanation:

if a is less than zero then b will from 4 down to negative infinity

so  b < 4

Does this help at all?   ask me some questions if you really want to learn about math ;)

4 0
2 years ago
Before football practice, Javier drank
Gwar [14]

Answer:

6/4

Step-by-step explanation:

Have a great day

5 0
2 years ago
Read 2 more answers
A 7 cm x 5 cm rectangle sits inside a circle with radius of 6 cm.
LenaWriter [7]

Answer:

78.04 square cm

Step-by-step explanation:

Area of shaded region = area of circle - Area of rectangle

= \pi \:  {r}^{2}  - l \times w \\  = 3.14 \times  {6}^{2}  - 7 \times 5 \\  = 3.14 \times 36 - 35 \\  = 113.04 - 35 \\  = 78.04 \:  {cm}^{2}

3 0
2 years ago
What is 150/100 in decimal form and percent form
Andrews [41]
Decimal : 1.5
Percent : 150%
3 0
3 years ago
List x1, x2, x3, x4 where xi is the midpoint endpoint of the five equal intervals used to estimate the area under the curve of f
Amanda [17]

Answer:

\bf x_1 = 2\\x_2 = 4\\x_3=6\\x_4=8

Step-by-step explanation:

The given interval : x = 0 to x = 10

Length of interval = 10 - 0

                              = 10

\text{Now, each }x_i \text{ is midpoint and endpoint of the five equal intervals}

⇒ Number of equal intervals = 5

\textbf{Length of each interval = }\frac{10}{5}

\textbf{Therefore, }\bf x_1 = 0 + 2 = 2\\x_2 = 2 +2 =4\\x_3=4+2=6\\x_4=6+2=8

3 0
3 years ago
Other questions:
  • What is the solution to the following expression if x=5
    12·1 answer
  • I Prove that Cos(90-θ)/1+sin(90-θ) +1+sin(90-θ) /cos(90-θ) =2
    12·2 answers
  • 15 POINTS! I WILL MARK YOU BRANLIEST! :) Find the volume of this prism below...
    15·2 answers
  • Which of the following represents the factorization of the polynomial below ?
    7·1 answer
  • D/3+10=7 solve problem
    12·1 answer
  • Which equation can be used to find the perimeter of a regular octagon with sides of length 12?
    14·1 answer
  • List the transformations of the function<br> j(x) = 3(-7(x+2))-4
    9·1 answer
  • 16) The zero of a polynomial ax+b (a is not zero) is<br><br>a/b<br>b/a<br>-a/b<br>-b/a​
    11·1 answer
  • What is the value of x?<br><br><br> Pls hurry!!!
    6·1 answer
  • Every blank is a rectangle
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!