Answer:
I would rather do the second option of which uses Compound interest that will give a profit of $47.85
Step-by-step explanation:
In this problem we will be exploring the two formulas
1. simple interest
A= P(1+r*t)
2. compound interest
A= P(1+r/n)^nt
Where A= final amount
P= initial amount
r= rate
t= time.
n= number of periods Compounded
1.given data
P= $600
r= 3%= 3/100= 0.03
t= 2 years
A= 600(1+0.03*2)
A= 600(1+0.06)
A= 600(1.06)
A= $636
Interest = 636-600= $36
2. Given data
P= $600
r= 4%= 4/100= 0.04
n= 24
t= 2
A= 600(1+0.04/24)^24*2
A=600(1+0.0016)^48
A=600(1.0016)^48
A= 600*1.07975
A= 647.85
Interest = 647.85-600= $47.85
Answer:
-3
Step-by-step explanation:
The main formula for slope intercept form is y=mx+b
m=slope
b=y-intercept
Let
M---------------> money borrowed -------------> <span>$9,850
r--------------> </span>discounted rate--------> <span>9 ¼=9.25-------> 0.0925
t---------------> time--------> </span><span>9 months=9*30=270 days
D-------------> </span><span>amount of the discount
we know that
D=M*r*t/360=(9850)*(0.0925)*(270/360)=683.34
the answer is $683.34</span>
Answer:
a = -92
Step-by-step explanation:
<u>Step 1: Subtract 29 from both sides</u>
a + 29 = -63
a + 29 - 29 = -63 - 29
<em>a = -92</em>
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Answer: a = -92
Answer:
Step-by-step explanation: