Answer: C) $462.96
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(1-z) can combine with other coupons
Answer:
$16
Step-by-step explanation:
Let his weekly allowance = x
Amount spent playing golf = x / 2
Amount earned for cleaning car = $4
Final amount at hand = $12
Mathematically ;
x/2 + 4 = 12
x/2 = 12 - 4
x/2 = 8
x = 2 * 8
x = $16
Weekly allowance = $16
C. Savings account B because it has more compounding periods per year.
Step-by-step explanation:
Step 1:
Savings account A has an APR of 5% which compounds interest semiannually. This means that savings account A compounds twice in a year. If account A compounds 5% a time, it would compound 5(2) = 10% in a single year.
Step 2:
Savings account B also has an APR of 5% which compounds interest quarterly. This means that savings account B compounds four times in a year. If account B compounds 5% a time, it would compound 5(4) = 20% in a single year.
Step 3:
Savings account A gets an interest of 5% a year while savings account B gets an interest of 10% so account B offers a higher APR because of more compoundings in a year.
