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ycow [4]
2 years ago
7

Danielle would like to start saving for her daughter’s college tuition. Which type of savings account should she open?

Mathematics
2 answers:
love history [14]2 years ago
8 0
401k is saving for retirment  so it is 529 plan
Kitty [74]2 years ago
6 0

Answer:

529 plan

Step-by-step explanation:

In order to determine which account should Danielle open for saving for her daughter's education, one must first identify what each option means here:

Money Market  basically refers to the dealing in short term loans. This is where one either involves in large volume trade with institutions, at wholesale level, or buys mutual funds and opens money market account in the bank, at retail level.

529 plan is where savings are done for future higher education expenses, therefore, is designed to be a tax-advantaged investment plan.

A basic savings account is a simple type of bank account for the purpose of savings by depositing money, keeping it secure and earning interest in the process. There is no specific purpose for opening such accounts and tax is deductible on the interest earned.

A 401(k) is sponsored by employer as retirement savings plan. This where savings are done for utilization at the time of retirement and taxes aren't deducted until money is withdrawn from the account.

Hence, we can conclude from the above mentioned definitions that the 529 plan will be best savings plan for Danielle to open in order to start saving for her daughter's education.

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Evaluate log base 12 of y^2, given log base 12=16
Ostrovityanka [42]

Answer:

y = 12^8

Step-by-step explanation:

Log base 12, y^2 = 16

y2 = 12^16

y = sqrt ( 12^16) = (12^16)^1/2

y = 12^8

5 0
2 years ago
If breadth of a rectangle is 19m and perimeter is 80m, find the length of the rectangle.
soldi70 [24.7K]

Answer: 21

Step-by-step explanation:

since 19 is the breadth and the perimeter is 80m, so 19*2=38 and 80-38= 42 so 42/2=21. The answer is 21

3 0
3 years ago
Help please and im writing this since it needs 20 characters
Marat540 [252]

Answer:

65% !

Step-by-step explanation:

Plz mark as brainliest!

5 0
3 years ago
A person invests $4000 at 2% interest compounded annually for 4 years and then invests the balance (the $4000 plus the interest
faltersainse [42]
\bf \qquad \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$4000\\
r=rate\to 2\%\to \frac{2}{100}\to &0.02\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{annually, thus once}
\end{array}\to &1\\
t=years\to &4
\end{cases}
\\\\\\
A=4000\left(1+\frac{0.02}{1}\right)^{1\cdot 4}\implies A=4000(1.02)^4\implies A\approx 4329.73

then she turns around and grabs those 4329.73 and put them in an account getting 8% APR I assume, so is annual compounding, for 7 years.

\bf \qquad \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$4329.73\\
r=rate\to 8\%\to \frac{8}{100}\to &0.08\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{annually, thus once}
\end{array}\to &1\\
t=years\to &7
\end{cases}
\\\\\\
A=4329.73\left(1+\frac{0.08}{1}\right)^{1\cdot 7}\implies A=4329.73(1.08)^7\\\\\\ A\approx 7420.396

add both amounts, and that's her investment for the 11 years.
7 0
3 years ago
What number is equivilent to 3 4/ 3 2
ki77a [65]

Answer:

9

Step-by-step explanation:

Using the property that  

a

m

a

n

=

a

m

−

n

, we have

3

4

2

2

=

3

4

−

2

=

3

2

=

9

Note that if we evaluated the numerator and denominator first, we would arrive at the same result:

3

4

3

2

=

81

9

=

9

8 0
3 years ago
Read 2 more answers
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