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romanna [79]
3 years ago
12

Tristan wants to buy a car and has a choice between two different banks. One bank is offering a simple interest rate of 3% and t

he other bank is offering a rate of 2.5%
compounded annually. If Tristan decides to deposit $7,000 for 4 years, which bank would be the better deal?
Mathematics
1 answer:
Mrrafil [7]3 years ago
6 0

Answer:

The better deal would be simple interest rate of 3%

Step-by-step explanation:

In order to calculate which bank would be the better deal If Trsitam decides to deposit $7,000 for 4 years, we would have to make the following calculation:

simple interest rate of 3%.

Therefore, I= P*r*t

=$7,000*3%*4

I=$840

FV= $7,000+$840

FV=7,840

compound interest rate of 2.5%

Therefore, FV=PV(1+r)∧n

FV=$7,000(1+0.25)∧4

FV=$17,089

The better deal would be simple interest rate of 3%

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Answer:

A. It will take 13 weeks until she gets the money nd she will have $50 left!

Step-by-step explanation:

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4 0
2 years ago
Find the exact value of sec (–660)°
Nostrana [21]
Add full rotations of 360° degree until the angle of between 0° and 360°.
Sec (60)
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8 0
3 years ago
Sophie and Simon are peeling a pile of potatoes for lunch in the cafeteria. Sophie can peel all the potatoes by herself in 45 mi
tensa zangetsu [6.8K]
Short Answer: 18 minutes
Remark

The answer to this problem is less than the smallest time of the two people working together. that fact lets out C and D (38 minutes and 75 minutes). Now you have to choose 15 minutes and 18 minutes. There's a method. No guessing needed.

Givens
Let the time for Sophie = S
Let the time for Simon = M
Let the job to completion = 1 
S = 45 minutes
M = 30 minutes

Step One
Convert minutes to hours.
45 minutes = 45 / 60 = 3/4 hour = 0.75 hour
30 minutes = 30 / 60 = 1/2 hour = 0.50 hour

Step Two
Set up the Equation
The formula is a form of job / hour.
Let the time = t that they both have to work

job = 1 in these problems.
1/S + 1/M = 1/t
1/0.75 + 1/0.5 = 1/t

Solve
1 ÷ 0.75 = 1.33333
1 ÷ 0.5 = 2

1.3333 + 2 = 3.33333 
3.3333 = 1 / t                    Multlply both sides by t
3.3333*t = 1
t = 1 / 3.333333333
t = 0.3 of an hour


1 hour = 60 minutes
0.3 hours = x              Cross Multiply
x = 60 * 0.3
x = 18 minutes

Answer working together it took them 18 minutes  <<<<< 
6 0
3 years ago
Read 2 more answers
PLEASE HELP WITH THIS QUESTION
DedPeter [7]

I think the correct answer is c

3 0
3 years ago
Need help
jolli1 [7]

Answer:

aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
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