Ted:
4,000 @ 4.5% interest compounded annually
Alan:
1,000 @ 6% interest compounded annually
Rule of 72: divide 72 by the compound annual interest rate
Ted: 72/4.5% = 16 years
Alan: 72/6% = 12 years
<span>Alan will win. It will take 12 years.</span>
Answer:
If using simple interest, the formula is:
= Amount * ( 1 + rate * time)
= 20,000 * ( 1 + 4% * 5)
= $24,000
Interest = Balance after 5 years - Investment
= 24,000 - 20,000
= $4,000
Using Compound Interest:
= Amount * ( 1 + rate)^time
= 20,000 * ( 1 + 4%)⁵
= $24,333.06
Interest = 24,333.06 - 20,000
= $4,333.06
Answer:
99
Step-by-step explanation: Use PEMDAS
12+8 = 96
96+6 = 102
102-3 = 96
Hope this helped!
Answer:
sec
Step-by-step explanation:
1/cosin = sec or cosin^-1
Answer:
D or the Last one
Step-by-step explanation:
because the equation equals that and it is a perfect square method because the middle term is not canceled out. Hope this helps!
