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MakcuM [25]
3 years ago
6

Lois and Joe start saving pennies on new years day. Lois has 5 pennies and saves 2 pennies every day. Joe starts with 4 pennies

and saves 6 pennies every day. this situation is kinda embarrassing, considering that they are both in their 30s. such is the life of an actor......After how many days will they have the same number of pennies
Mathematics
1 answer:
Mazyrski [523]3 years ago
4 0
Well Your answer is 32 beacuse if lois has 5 pennies and saves 2 and joe start with 4 pennies and saves 6. well what i do first is 2 over 5 and then i do 4 over 6 and then i multiply 5 and 6 and then it 30 and that goes on the bottom and then i multiply 2×6 =12 and then i multiply 4×5=20 so i add both answer and it get me 30 that your answer
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Answer:

d. 0.0463% points.

Step-by-step explanation:

We have been given that Anna's bank gives her a loan with a stated interest rate of 10.22%.

To find the how mush the interest rate is effective, while compounded daily than compounded monthly, we will find the difference between interest compounded daily from interest compounded monthly.

\text{The effectiveness of interest rate compounded daily}=(1+\frac{r}{365})^{365}-(1+\frac{r}{12})^{12}

Let us convert our given rate in decimal form.

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Upon substituting our given interest rate in above equation we will get,

\text{The effectiveness of interest rate compounded daily}=(1+\frac{0.1022}{365})^{365}-(1+\frac{0.1022}{12})^{12}

\text{The effectiveness of interest rate compounded daily}=(1+0.00028)^{365}-(1+0.008516666)^{12}

\text{The effectiveness of interest rate compounded daily}=(1.00028)^{365}-(1.008516666)^{12}

\text{The effectiveness of interest rate compounded daily}=1.1075891260304368-1.1071257622419648

\text{The effectiveness of interest rate compounded daily}=0.000463363788

Let us convert our rate in percentage by multiplying our answer by 100.

\text{The effectiveness of interest rate compounded daily}=0.000463363788*100

\text{The effectiveness of interest rate compounded daily}=0.0463363788\%

Therefore, the Anna's effective interest rate will be 0.04633% points and option d is the correct choice.

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