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Stella [2.4K]
3 years ago
7

Melanie invests $4,000 into an account offering 4% interest compounded annually. Gina invests $4,000 into a simple interest savi

ngs account offering a 4.5% interest rate. What is the dollar amount of the greater balance at the end of five years? Round to the nearest dollar. Use the formula es026-1.jpg for compound interest; Use the formula es026-2.jpg for simple interest.
Mathematics
2 answers:
VashaNatasha [74]3 years ago
4 0
Melanie: 
Amount after 5 years = 4000(1 + 0.04)⁵ = $4867

Gina:
Amount after 5 years = 4000 + 5(0.045 x 4000) = $4900

Answer: Gina has the greater balance and her balance is $4900.
Natalija [7]3 years ago
3 0

Answer:

4900

explanation: i did the test

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Write and solve the equations. A number y is five less than thirteen.
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We can follow the following steps to make an equation and solve it.

Step 1:

five less than 13 means we have to subtract 5 from 13

so it becomes 13-5

Step 2:

A number y is five less than thirteen.

Now in algebraic expressions, "is" stands for "="

So we have:

y=13-5

Step 3:

Solving the equation to find y.

y=13-5

Subtracting 5 from 13, we get :

y=8

Answer:

For the given equation the solution is y=8.

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3 years ago
Courtney is twice as old as Andre and three years older than Natalie. Courtney is half Shari's age. The difference between Shari
lesantik [10]

The question does not seem complete, but I'll represent the statement mathematically and look for their ages each. This is because the worst they can ask for is their ages.

Let C stand for Courtney's age, A for Andrei's age, N for Natalie's age and S for Shari's age. From the question we can deduce the following:

C = 2A

C = N + 3

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2C - (C - 3) = C + C/2

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C/2 = 3 and C = 6

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2 years ago
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There are 4 students who have piercings both on their ear and their noses.

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3 years ago
A line that includes the points (-2,-7) and (-3, p) has a slope of -6. what is the value of p
MrRissso [65]

Answer:

p=-1

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5 0
3 years ago
What is the slope of this line?
Talja [164]

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3 years ago
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