40000 is how much greater than 4000
2 answers:
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Answer:
First bank = $6792
City bank = $6803
Star bank = $6817
Step-by-step explanation:
The lists of banks and their annual interests rates are attached.
For first bank, since the interest is 7.5%, The total interest = 7.5% of $20000 = 0.075 × $20000 = $1500
For city bank, since the interest is 8.2%, The total interest = 8.2% of $20000 = 0.082 × $20000 = $1640
For Star bank, since the interest is 9%, The total interest = 9% of $20000 = 0.09 × $20000 = $1800
The loan plus interest for the banks annually are:
First bank = $20000 + $1500 = $21500
City bank = $20000 + $1640 = $21640
Star bank = $20000 + $1900 = $21900
The monthly payments for the banks are:
First bank = $21500 / 12 months = $1792
City bank = $21640 / 12 months = $1803
Star bank = $21800 / 12 months = $1817
Since The cost to run the gym each month is $5,000. Ed's total monthly expenses for each loan option = monthly payments + cost for each month. It is calculated as:
First bank = $5000 + $1792 = $6792
City bank = $5000 + $1803 = $6803
Star bank = $5000 + $1817 = $6817
Answer:
$36 400
Step-by-step explanation:
Step 1
The first step is to figure out how much money is saved at the end of each month for the period from January 1 to June 15. The amount deposited at the end of each month is obtained by multiplying the amount from the previous month by 3.
The amount deposited in January is
The amount deposited in February is
The amount deposited in March is
The amount deposited in April is
The amount deposited in May is
The amount deposited in June is
Step 2
The next step is to add up all the money that was deposited into the account. This calculation is shown below,