Answer: A
Compound interest simply defined as the interest added at regular interval. Compound interested can be calculated using
Compound interest = P (1+) ^nt and Pe ^rt
P = Initial balance
r = Annual interest rate
n = Number of times the interest is compounded per year
t =Number of year money is invested
Using
Compound interest = P (1+ ) ^nt
Continuous
P= $ 8000
t = 6
r = 6.25%
=
= 0.0625
n = 1
Compound interest = 8000 (1+) ^1×6
= 8000 (1 + 0.0625) ^6
= 8000 (1.0625) ^ 6
= 8000× 1.4387
= $11,509.6
Semi- annually
P= $ 8000
t = 6
r = 6.3%
=
= 0.063
n = 2
Compound interest = 8000 (1+) ^2×6
= 8000 (1 + 0.063) ^12
= 8000 (1.063) ^12
= 8000× 1.4509
= $11,607.0
Investing $ 8000 semi-annually at 6.3% for 6 years yields greater return
Therefore the answer is (A)
Answer:
where is the diagram for the question?
Step-by-step explanation:
6b x>=1
6c y>7
7a x>3
7b -2<=2x<6
-1<=x<3
answer:-1,0,1,2,3
81/5 = 16.2
8.5
84/5 = 16.8
8.44
So from least to greatest would be: 8.44, 8.5, 16.2, 16.8
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