Answer: 190.52
Step-by-step explanation:
Answer:
6% monthly
Step-by-step explanation:
The monthly rate being compounded when the interest is 6% per year is ...
6%/12 = 0.5%
so the multiplier each month is
1 + 0.5% = 1.005
___
The monthly multiplier when 5.86% is compounded continuously is ...
e^(5.86%/12) ≈ 1.004895
The 6% rate will give a larger yield after any length of time.
4/5 divided by 1/10 = 4/5 x 10/1 = 40/5 = 8
It = 6.888888888 and you can round it to 7
The answer is A because 75 + 15 is 90