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aliya0001 [1]
3 years ago
14

A bank offers a money market account paying 8.7​% interest compounded annually. A competing bank offers a money market account p

aying 8.5​% interest compounded daily.​ (Assume 360 days in a​ year.) Which account is the better​ investment?
Mathematics
1 answer:
stich3 [128]3 years ago
5 0
The answer is 8.5% interest compounded daily.

EXPLANATION

Regardless of your rate, the more often interest is paid, the more beneficial the effects of compound interest.

A daily interest account, which has 360 compounding periods a year, in this case, will generate more money than an account with an annual compounding, which has one compounding period per year.
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What should A and B equal?<br><br> marking brainliest for correct answer!!
Rzqust [24]

Answer:

a = 5

b =  - 3

Step-by-step explanation:

Let set up the equation

{2}^{ - 3}  \times  {a}^{ - 3}  =   {10}^{b}

First, let solve for a.

Since our product base is 10 and one of our factor base is 2. We need to find a number to multiply 2 by to get 10.

2 \times a = 10

a =  \frac{10}{2}

a = 5

Let replace a in the equation,

{2}^{ - 3}  \times  {5}^{ - 3}  =   {10}^{b}

Using the rule that if two exponet have the same power but different bases, we multiply the bases and keep the same power.

We already multiplied the bases.

The power stay the same so b=-3

4 0
3 years ago
if accrotime guarantees a full refund on any defective watch for 2 years after purchase, what percentage of total
adell [148]

Answer:

A. 0.62%

B. 28 months

Step-by-step explanation:

A. Calculation for what percentage of total production will the company expect to replace

Let x represents the distribution of life times

Let mean be 34 months

Let standard deviation be 4 months.

Based on the information the full refund on any defective watch for 2 years will represent 24 months (2 years *12 months).

First step

P(X<24)

= p(x-mean/ standard deviation< 24-34/4)

= p(z< -10/4)

=P(z<-2.5)

Second step is to Use the excel function to find NORMSDIST(z) of P(z<-2.5)

NORMSDIST(z)=0.62%

Therefore the percentage of total production will the company expect to replace will be 0.62%

B. Calculation for how much the guarantee period should be

First step

P(X<x)=0.06

P(x-Mean/Standard deviation < x-34/4) = 0.06

Second Step is to Use excel function

P(z<x-34/4) = (Normsinv(0.06)

x-34/4 = -1.555

Now let calculate how much the guarantee period should be

x = -6.22+34 months

x = 27.78

x = 28 months (Approximately)

Therefore the guarantee period should be 28 months

4 0
3 years ago
Whats nine plus 10 ;)
pishuonlain [190]

Answer:

19

Step-by-step explanation:

9+10=19

please mark me brainliest

8 0
2 years ago
Read 2 more answers
Five digit serial numbers for a product are to be made using letters and/or numbers, e.G. JGR29. The serial number could have al
S_A_V [24]

Answer:

1,404,000 serial numbers can be made

Step-by-step explanation:

For the five digit serial numbers, since all letters and all numbers could be used, then we can use 26 letters (A,B,C,...Z) and 10 numbers (0,1,2,...9).

Now, say the letters and numbers are to occupy the labeled spaces below

_  _  _  _  _

1   2  3  4  5

(NOTE: Spaces 1,2,3 are to be occupied by any of the 26 letter while spaces 4 and 5 are to be occupied by any of the 10 numbers)

For space 1, there are 26 possibilities

For space 2, there will be (26 -1 ) 25 possibilities (since repetition of characters is NOT allowed)

For space 3, there will be (26-2) 24 possibilities (since repetition of characters is NOT allowed)

For space 4, we have 10 possibilities

and for space 5, we (10-1) 9 possibilities (since repetition of characters is NOT allowed)

Therefore, the number of serial numbers that can be made is

26 × 25 × 24 × 10 × 9 = 1404000

Hence, 1,404,000 serial numbers can be made

OR

Using permutation, nPr = n!/(n-r)!

For the letters,

n is the total number; n = 26

and r is the number of available spaces, r = 3

For the numbers,

n = 10

r = 2

Then, we get

26P3 × 10P2

26!/(26-3)! × 10!/(10-2)!

26!/23! × 10!/8!

15600 × 90 = 1404000

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59 out of 140........
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3 years ago
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