Answer:
Account B
Value=$21,589.66
Step-by-step explanation:
#We determine the compounded amount after 10 years for each account using the formula:
#For account A:
Given principal is $16,000, i=3% and n=10, m=4:
#For account B:
Given principal is $16,000, i=3% and n=10, m=12:
We compare the amounts after 10 years and get the difference:
Hence, account B has the most value after 10 years and has a value of $21,589.66
Answer: the company should invest $12191 each week
Step-by-step explanation:
The amount that the company needs is $5,400,000
We would apply the periodic interest rate formula which is expressed as
P = a/[{(1+r)^n]-1}/{r(1+r)^n}]
Where
P represents the weekly payments.
a represents the amount that the company needs
r represents the rate.
n represents number of weekly payments. Therefore
a = 5,400000
There are 52 weeks in a year
r = 0.079/52 = 0.0015
n = 52 × 14 = 728
Therefore,
P = 5400000/[{(1+0.0015)^728]-1}/{0.0015(1+0.0015)^728}]
5400000/[{(1.0015)^728]-1}/{0.0015(1.0015)^728}]
P = 5400000/{2.98 -1}/[0.0015(2.98)]
P = 5400000/(1.98/0.00447)
P = 5400000/442.95
P = $12191
Answer:
To convert a ratio into the form of a percentage
Answer:x=53/6 and y=-55/6
Step-by-step explanation:
Let the first number x
Second number b y
Sum of the numbers x+y=-1/3
x-y=18
Solve simultaneously
Using elimination method
We get
2y=-55/3
y=-55/6
Substitute for y in equation 1
x+55/6=18
x=18-55/6
x=53/6
