2. A bank representative studies compound interest, so she can better serve

Mathematics

1 answer:

Kaylis [27]3 years ago

4 0

Answer:

Step-by-step explanation:

Given that a bank representative studies compound interest, so she can better serve customers. She analyzes what happens when $2,000 earns interest several different ways at a rate of 2% for 3 years.

a) the interest if it is computed using simple interest. 12.00

= $\frac{2000(3)(12)}{100} \\=720$ dollars

b) the interest if it is compounded annually.

= $2000(1.12)^3-2000\\= 809.86$ dollars

c) the interest if it is compounded semiannually

= $2000(1.06)^6 -2000\\= 837.04$

d) the interest if it is compounded quarterly.

= $2000(1.03)^12 -2000\\= 851.52$

e) the interest if it is compounded monthly.

= $2000(1.01)^24 -2000\\= 861.54$

You might be interested in

There are three squares inside the triangle . Find the area of the third triangle with steps , please

pogonyaev

Answer: 49 cm^2

Step-by-step explanation:

The length of the small pink square box will be:

L^2 = 9

L = sqrt( 9 )

L = 3

The length of the big pink square box will be:

L^2 = 16

L = sqrt( 16 )

L = 4

The length of the yellow square box will be:

4 + 3 = 7

The area of the third square box will be

A = 7^2

A = 49 cm^2

6 0

3 years ago

Can I Get A Little Help Here?

Musya8 [376]

Hey there :)

We know the formula for simple interest is
I = prt
{ The picture includes what each stands for }

Lehena:
Initial amount = $100
Interest rate = 2.5% = $\frac{2.5}{100} = 0.025$
Time = 3 years
I = ( 100 )( 0.025 )( 3 )
= 7.5$

Total = $100 + $7.5 = $107.5

Marty:
Initial amount = $100
Interest rate = 2% = $\frac{2}{100} = 0.02$
Time = 3 years
I = ( 100 )( 0.02 )( 3 )
= $6

Total = $100 + $6 = $106

How much more than Marty did Lehena receive?
= Total Amount of Lehena - Total Amount of Marty
= 107.5 - 106
= $1.5

Your answer will be option B) $1.50