True or False:
2 answers:
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Answer:
Option A earns higher interest($84115.58)
the difference in interest between the two option is $197.9
Step-by-step explanation:
In the problem we are going to apply both the simple interest formula and compound interest formula and compare which has the best/higher returns
Given data
Principal P= $43,000
Rate r= 6%= 0.06
time t= 3years
n= 4 (applicable for compound interest compounded quarterly)
solving for option A gives her 6% compounded quarterly
the compound interest formula is
Interest is =$8411.58
solving for option B which gives her 6% simple interest annually
the simple interest formula is
Interest is= $8213.68
calculating the diference in interest between the two options we have
= $197.9
Option A earns higher interest
Answer:
Step-by-step explanation:
To solve this problem, first you have to isolate it on one side of the equation.
First, subtract 1/4 from both sides.
1/4+x-1/4<5/6-1/4
Solve.
5/6-1/4=7/12
Therefore, the correct answer is A. x< 7/12.