Answer:
J Compound interest; $298.65
Step-by-step explanation:
Interest compounding pays interest on the interest. For the same annual rate, any amount of compounding will earn more interest.
For short time periods, the effect of compounding is not great. In general, it will be a fraction of the equivalent simple interest rate. Here, the effective multiplier for annual compounding is ...
1.051^4 = 1.22024337
and the effective multiplier for simple interest is ...
1 +0.051·4 = 1.204
Then the difference in interest rate multiplier for the 4-year period is ...
1.22024337 -1.204 = 0.01614337
That fraction of the $18500 principal is $298.65.
Compound interest earns $298.65 more than simple interest in this scenario.
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Answer:
1 1/2
Step-by-step explanation:
Hope this helps!
48,570-45,000=3,570
3,570/10.50=340
h=340
Step-by-step explanation:
here's the answer to your question
Answer:
33 seconds
Step-by-step explanation:
If the times used to compute the handicap are 55 seconds and 88 seconds, the handicap given to Jack is 88-55 = 33 seconds.
Jack will be given a 33-second head start, then Dicky will start.