Answer:
6.3
Step-by-step explanation:
Answer:
Y-int:2
Slope: 4
Step-by-step explanation:
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Answer: B
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Substitute the given values into the given equations, then evaluate the difference between the results.
Compounded annually, Skylar's balance after 13 years is
A = 3400(1 +.0115)^13 = 3944.90
Compounded quarterly, Skylar's balance after 13 years is
A = 3400(1 + .0115/4)^52 ≈ 3947.42
Using the account where interest is compounded quarterly, Skylar earns additional interest of
$3947.42 - 3944.90 = $2.52