Norm has $15,000 to deposit. His daughter is a junior in high school and plans to go to college. Recommend the best way for Norm
to store his money. Note that the interest rates are expressed on an annual basis.
a.
A four-year CD paying 4.8% interest, with a substantial penalty for early withdrawal
b.
An online savings account offering 2.3% interest
c.
A money market account paying 3.5% interest, renewable for three-month commitments
d.
A checking account with no monthly fees
a.
A four-year CD paying 4.8% interest, with a substantial penalty for early withdrawal
b.
An online savings account offering 2.3% interest
c.
A money market account paying 3.5% interest, renewable for three-month commitments
d.
A checking account with no monthly fees
2 answers:
You might be interested in
Answer:
3.) 0.894
Step-by-step explanation:
✔️First, find BD using Pythagorean Theorem:
BD² = BC² - DC²
BC = 17.89
DC = 16
Plug in the values
BD² = 17.89² - 16²
BD² = 64.0521
BD = √64.0521
BD = 8.0 (nearest tenth)
✔️Next, find AD using the right triangle altitude theorem:
BD = √(AD*DC)
Plug in the values into the equation
8 = √(AD*16)
Square both sides
8² = AD*16
64 = AD*16
Divide both sides by 16
4 = AD
AD = 4
✔️Find AB using Pythagorean Theorem:
AB = √(BD² + AD²)
AB = √(8² + 4²)
AB = √(64 + 16)
AB = √(80)
AB = 8.9 (nearest tenth)
✔️Find sin x using trigonometric ratio formula:
Reference angle = x
Opposite side = BD = 8
Hypotenuse = AB = 8.944
Thus:
(nearest thousandth)