($3756/100)(100+12)/100
$37.56(1.12)
$42.0672
$42.07 (to nearest cent)
Answer:
The solution for y = -1.
Step-by-step explanation:
Given:
....(1)
....(2)
So, to solve for y, first we solve for x in equation (2):
⇒
Dividing both sides by 2,
⇒
Now, substituting the value of x in equation (1):
⇒
⇒
⇒
⇒
⇒
Dividing both sides by 11,
⇒
Therefore, the solution for y = -1.
Answer:
(B) i think
Step-by-step explanation:
comment how it help
Assuming he had not dealt with the bank offering plan B before, he has nothing deposited two years back. Hence plan B only gives him only 0.2% annual interest for his deposit.
Plan A gives 0.25% for his deposit all the time.
So plan A is more advantageous.
For durations,
To reach $1,000,000 from $100,000, the money needs to grow 10 fold, or
(1+i)^n=10
n=log(10)/log(1+i).
So for plan A:
n=log(10)/log(1.0025)=922.18 years, while for
plan B
n=log(10)/log(1.0020)=1152.44 years.
Hope the bank(s) still exist at that time.
