Step-by-step explanation:
let's assume one month is 30 days you would multiply 10 by 30.
which would be 300 hours in 1 month
now if one month is 31 days you would simply multiply 10 by 31.
which would be 310 hours
Answer:
$1596
$1597.28
$1598.33
bank A
Step-by-step explanation:
The formula for calculating compound interest:
FV = P (1 + r/m)^mn
FV = Future value
P = Present value
R = interest rate
N = number of years
m = number of compounding
Bank A = $1500(1.064) = $1596
Bank B = $1500( 1 + 0.063/12)^12 = 1597.28
Bank C = $1500( 1 + 0.0635/365)^365 = $1598.33
Bank A pays the least amount of interest
0.5 will be rounded to 1.0
1.2 will be rounded to 1.0
1.7 will be rounded to 2.0
3.4 will be rounded to 3.0
