1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ExtremeBDS [4]
3 years ago
5

You have $2000 to deposit for 7 years and two account options. The first earns you simple interest at a rate of 4% and the secon

d earns you compound interest (compounded annually) at a rate of 2%. Which account earns you more money?
First account (simple interest)

Second account (compound interest)

They earn you the same

Not enough information to say
Mathematics
1 answer:
pogonyaev3 years ago
6 0

Answer:

First account (simple interest)

Step-by-step explanation:

The amount of interest earned by the first account is ...

I = Prt = $2000·0.04·7 = $2000·0.28 = $560

The amount in the second account at the end of 7 year is ...

FV = P·(1+r)^t = $2000·1.02^7 = $2297.37

so you have earned $297.37 in interest on the second account.

$560 is more than $297, so the First Account (simple interest) earns more money.

You might be interested in
Help me with these 3 plzz!!! plzzzzz
Harrizon [31]
I tried my best with 1, 2, and 3

6 0
2 years ago
Read 2 more answers
I don’t even know if my brain exist?
bulgar [2K]

Answer:

x = 14

Step-by-step explanation:

hope it's helpful

6 0
3 years ago
Can someone please help me on this problem.
Rasek [7]
Your answer should be 101°. 52+53+154= 259. 360-259= 101. Hope that helps
5 0
2 years ago
In this figure, A'B'C'D'is a transformation of ABCD.
siniylev [52]

Answer:

translation  and um thats all

6 0
3 years ago
I need help with a word problem. Picture is below. Please help.
mars1129 [50]
I hope this helps you


2x+pi. x

7 0
3 years ago
Other questions:
  • 3 to the power of -4
    14·1 answer
  • Mixed number as a decimal. 8 1/10
    14·1 answer
  • What is 12 x 15 (405 x 10)
    8·2 answers
  • there were 600 sheep and goats in the hills. If the ratio of sheep to goats in 1 to 2, how many sheep are there
    10·2 answers
  • The probability that an event will occur is . Which of these best describes the likelihood of the event occurring? (5 points) Gr
    11·1 answer
  • Write an inequality that represents this situation below. Be sure to define your variable in words.
    7·1 answer
  • I just need the answer no explanation
    6·2 answers
  • You and your friends plan to attend the county fair this weekend. Admission to the fair is $5 and the cost per ride is $0.50. Ho
    6·2 answers
  • Please help :30 points ​
    12·2 answers
  • What is the solution to 4x + 2 = 6(-2x - 5) ?
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!