Answer:
13.75
Step-by-step explanation:
Slash and dash. turn the both minuses into positives and add like normal. 6.5 plus 7.25 equals 13.75.
Answer:
Step-by-step explanation:
Value of Sam's car after t years =
=
Value of Sam's car in 5 years=
= $ 4437
Term life insurance has the lower premium because term life insurance pays the face value to your beneficiary if you die within a certain set period of time, whereas whole life insurance covers you your entire life. (Option A)
<h3>What is insurance?</h3>
Insurance is when a third-party (the insurer) promises to indemnify another party (the insured) for losses they might suffer in the future in exchange for agreed upon payments.
Permanent life insurance is a type of insurance that provides a coverage that never expires. The person with a permanent life insurance is covered until he or she passes on. Whole life insurance is a type of permanent life insurance that has a fixed and guaranteed premium and a fixed death benefit.
Term life insurance is a type of insurance that provides coverage to a person only for a scheduled period of time. For example, a person who buys a 10 year term life insurance, the person's insurance only lasts for 10 years. If the person passes on within the 10 years, his beneficiary receives payments. If the person passes on after 10 years, his beneficiary does not receive any payments.
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Answer:
$1,229.75
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
<em />
First, change 3.25% into a decimal:
3.25% -> 
-> 0.0325
Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:
Lastly, subtract A from P to get the interest earned:
