Question

(80 points)

Answer 1

I think she's wrong because she the real answer is an interest rate of 6 but she's thinking wrong so she's rethink her answer I hope I helped u

Answer 2

Answer:

Yes, Naomi is correct

Step-by-step explanation:

Explanation:  For explain this we can consider an example - Let us suppose Naomi deposited 100 rupees in her saving account at the rate 6% for 1 year .

Now, if the interest is quarterly then according to the formula

compound interest = -P where r is the rate annually and n is the number of years.

so CI= -100 ( here the rate is already given in quarterly)

CI= -100= 1.26247696-100=26.247696 rupees=26(approx)

Now, if the compound interest is 1.25 per month then again from the formula-

CI=-P

CI= -100= 100(1.16075452)-100=16.075452=16(approx)