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
dimaraw [331]
3 years ago
13

PLEASE HELPPPP

Mathematics
2 answers:
andriy [413]3 years ago
7 0

Answer:

Option 2 will earn Hannah the most amount of money

$2176.885, 12 years

18 years, $2369.9

N.B: These are the future values of her earnings which is the principal plus compound interests after the respective years. Each compound interest is calculated in the explanation below.

Step-by-step explanation:

Hannah is trying to select an option to go for in an investment using two different compound interest rate at different years.

To calculate the amount she will accumulate at the end of the respective years using compound interest, we use the formula:

A = P (1 + r/n) ^ nt

Where A= Amount I.e future value of her investment including Interest.

P= Principal amount to be invested

r= annual interest rate

n= number of times the interest was compounded

t= time the money was invested for (in years)

Based on this, let's calculate the earnings for each option Hannah has.

For the first option:

A= ?

P= $1000

r= 6.5% = 0.065

n= 12 (Interest will compound 12 times in 12 years)

t= 12 years

Hence, the formula:

A = 1000 (1 + 0.065/12) ^ 12×12

A= 1000 (1.005416) ^ 144

A= 1000 × 2.1768

A= 2176.8

Hence, the value of Hannah's investment after 12 years at 6.5% interest will be $2176.8.

The compound interest (I) = A - P

= 2176.8 - 1000 = $1176.8

For the second option,

A= ?

P= $1000

r= 4.8% = 0.048

n= 18 (Interest will compound 18 times in 18 years)

t= 18 years

Hence, the formula:

A = 1000 (1 + 0.048/18) ^ 18×18

A= 1000 (1.00266) ^ 324

A= 1000 × 2.3699

A= 2369.9

Hence, the value of Hannah's investment after 18 years at 4.8% interest will be $2369.9

The compound interest (I) = A - P

= 2369.9 - 1000 = $1369.9

Therefore, Hannah should select the first option, because she will earn -$1176.8- money in only -12-years, which is sooner than having to wait for -18- years and a total of -$1369.9- money, which is only a little than the first option.

salantis [7]3 years ago
6 0

Answer:

Hannah should select the first option, because she will earn $2,181.48¢ in only ___12__ years, which is sooner than having to wait for ____18__ years and a total of ____$2,325.43¢__ , which is only a little than the first option.

Step-by-step explanation:

Please kindly see the attached file for more explanation

You might be interested in
Which line segment is a radius of circle F?<br><br> A. BE<br><br> B. AB<br><br> C. BF<br><br> D. AC
Anarel [89]
Hello!
I would say the correct answer is C. BF
The definition of a radius is "<span>a straight line from the center to the circumference of a circle or sphere."
I hope this helps :)</span>
3 0
3 years ago
Read 2 more answers
If two lines intersect, then their intersection is exactly one point. ...draw a sketch to illustrate
Lostsunrise [7]
Just sketch two lines crossing each other like a street intersection.
4 0
3 years ago
ABC is a right triangle. if AC =4 and BC=10,find AB leave the answer in simplest radical form
Ganezh [65]
AB = sqrt(10^2 - 4^2) = sqrt(100 - 16) = sqrt(84) = sqrt(4 x 21) = 2sqrt(21) = 2 radical 21.
8 0
3 years ago
Select all of the angles that have a positive measure
lina2011 [118]

Answer:

Just the second one is correct

3 0
3 years ago
Read 2 more answers
A runner runs a distance of 450 metres in a time of 50 seconds. What is his average speed?
vekshin1

Answer:

0.279 miles / 0.449 km

Step-by-step explanation:

convert the meters into miles/kilometers to get your answer

4 0
3 years ago
Other questions:
  • Andrea wanted to run at least 3 more kilometers on Sunday than she ran on Friday and Saturday combined. Did she reach her goal?
    14·2 answers
  • Aluminum usage in automobiles has been climbing steadily. As recently as 1990, there were no aluminum-structured passenger cars
    15·1 answer
  • What polynomial expression will make this equation true?<br> (3x +2) - ? = (6x+7)
    8·1 answer
  • Identify the exponential function for this graph. (Be sure to look at the scales
    10·1 answer
  • 13,15,16<br> Is it a right, acute, or obtuse triangle
    5·1 answer
  • -3/4v=6 solve for v
    14·2 answers
  • What is the quotient ? -4 /5 divide 2 A . - 1 3/5 B . -2 /5 c. 1/2 D . 1 3/ 5
    6·2 answers
  • X^2 + 12x + c is a perfect square trinominal. What is the value of c?
    13·2 answers
  • natalie is baking cupcakes. Each cupcake needs ½ a cup of sugar. How many cupcakes can she make if she has 7 ⅓ cups of sugar? ​
    11·2 answers
  • What is the value of 780/60
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!