9514 1404 393
Answer:
- 10,247.38 from continuous compounding
- 10,228.50 from semiannual compounding
- continuous compounding earns more
Step-by-step explanation:
The formula for the account balance from continuously compounded interest at annual rate r for t years is ...
A = Pe^(rt) . . . . P = principal invested
A = 8820e^(0.05·3) ≈ 10,247.38 . . . continuous compounding
__
The formula for the account balance from interest compounded semiannually at annual rate r for t years is ...
A = P(1 +r/2)^(2t)
A = 8820(1 +.05/2)^(2·3) ≈ 10,228.50 . . . semiannual compounding
Continuous compounding earns more.
Based on the task content given; the initial fee and the fee per stop is $2 and $1.5 respectively.
<h3>Equation</h3>
let
- Initial fee = x
- Fee per stop = y
x + 3y = 6.50
x + 7y = 12.50
- Subtract both equation to eliminate x
7y - 3y = 12.50 - 6.50
4y = 6
y = 6/4
y = 1.5
x + 3y = 6.50
x + 3(1.5) = 6.50
x + 4.5 = 6.50
x = 6.50 - 4.5
x = 2
Therefore, the initial fee and the fee per stop is $2 and $1.5 respectively.
Learn more about equation:
brainly.com/question/11418438
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Answer:
times 5/4
Step-by-step explanation:
7 x = 35/4
x = (35/4) / 7
x = (35/4) x (1/7)
x = 35/28
x = 5/4
Answer:
1.25
Step-by-step explanation:
did it on edge 2020
