58.April would like to invest $200 in the bank for one year. Three banks all have a nominal APR of 1.5%, but compound the intere
1 answer:
Answer:
$203.00
Step-by-step explanation:
Since the bank in question compounds interest just once, and this is a one year investment, it can be treated as a simple rate interest problem. Therefore, the total balance after one year (B) is given by the following formula:
April's balance would be $203.00 after one year.
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I was taught to get a common denominator and then arrange them in the correct order.
So first you find out what all the denominations can be multiplied to. That would be 40
So you multiply the bottom of each fraction by a number that will get 40.
3/4 * 10 = 30/40
7/8 * 5 = 35/40
3/5 * 8 = 24/40
Then you get 30/40, 35/40, and 24/40.
Then you organize the m.
24/40, 30/40, and 35/40
