Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.
Step-by-step explanation:
Giving the following information:
Joshua:
Initial investment (PV)= $750
Interest rate (i)= 0.0341/4= 0.008525
Number of periods (n)= 18*4= 72 quarters
Josiah:
Initial investment (PV)= $750
Interest rate (i)= 0.0285
Number of periods (n)= 18 years
To calculate the future value of each one, we need to use the following formula:
FV= PV*(1 + i)^n
Joshua:
FV= 750*(1.008525^72)
FV= $1,381.98
Josiah:
FV= 750*(1.0285^18)
FV= $1,169.74
Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.
Answer:
4 dollars
Step-by-step explanation:
3x3x3x3x3 =243
4x4x4x4=256
For 20% out of 100% it would be 1/5 as you need 5 20s for 100
Answer:
y = -
x + 1
Step-by-step explanation:
y = mx + b
Find two point on the graph (0,1) (4,-2); 1 is the y intercept
y = mx + 1
= 
y = -x + 1
Answer:
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