Consider two investments, one earning simple interest and one earning compound interest. If both start with the same initial de
1 answer:
Answer:
Ratio between balances will be:
Where;
x = deposit
%i = interest rate annual
n = years
Step-by-step explanation:
Lets say first deposit is x$ for both investment and annual interest rate for both investment are %i. Also, they stayed under i interest in n years:
Total balance for simple interest is:
How ever total balance for compound interest is:
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Answer:
Step-by-step explanation:
We know that Mary has two twenty dollar bills, equaling to forty dollars in total.
So lets start on the first few things she buys, the berries, each costing 7.98 dollars and cents, since she only bought two, that means we need to multiply 7.98 by 2
==> 15.96 dollars and cents
Now we can take it out of forty.
$ 40.00
- $ 15.96
-------------------
$24.04
Now we only have 24.04 dollars and cents.
Now for the next few items, the peaches which costs 5.99 each, then since he only bought 3, we multiply 5.99 three times.
==> 17.97 dollars and cents
Now we can take it out of 24.04.
$24.04
- $ 17.97
--------------------
$6.07
Mary has 6 dollars and 7 cents in change.