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jeka94
3 years ago
11

Use the compound interest formulas A = P 1 + r n nt and A = Pe rt to solve. 2) Suppose that you have $8000 to invest. Which inve

stment yields the greater return over 6 years: 6.25% compounded continuously or 6.3% compounded semiannually? 2) A) $8000 invested at 6.3% compounded semiannually over 6 years yields the greater return. B) $8000 invested at 6.25% compounded continuously over 6 years yields the greater return. C) Both investment plans yield the same return.
Mathematics
1 answer:
Gnoma [55]3 years ago
3 0

Answer: A

Compound interest simply defined as the interest added at regular interval. Compound interested can be calculated using

Compound interest = P (1+) ^nt and Pe ^rt

P = Initial balance

r = Annual interest rate

n = Number of times the interest is compounded per year

t =Number of year money is invested

Using

Compound interest = P (1+ ) ^nt

Continuous

P= $ 8000

t = 6

r = 6.25%

=

= 0.0625

n = 1

Compound interest = 8000 (1+) ^1×6

= 8000 (1 + 0.0625) ^6

= 8000 (1.0625) ^ 6

= 8000× 1.4387

= $11,509.6

Semi- annually

P= $ 8000

t = 6

r = 6.3%

=

= 0.063

n = 2

Compound interest = 8000 (1+) ^2×6

= 8000 (1 + 0.063) ^12

= 8000 (1.063) ^12

= 8000× 1.4509

= $11,607.0

Investing $ 8000 semi-annually at 6.3% for 6 years yields greater return

Therefore the answer is (A)

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Uptown Country Club only admits members with annual incomes in the top 2.5% of the United States. If the annual individual incom
Verdich [7]

Answer:

$74,600

Step-by-step explanation:

-Given the probability is 2.5%, mean=$55,000 and standard deviation= $10,000

-We find the z value of 2.5%

p=P(z>\frac{X-\mu}{\sigma})\\\\1.96=P(z

Hence, the minimum amount of income to be in the top 2.5% is $74,600

5 0
3 years ago
A sequence which terminates is called
vivado [14]
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5 0
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Each side length of a triangle is 4 cm. What type of triangle is it?
KIM [24]
Equilateral, because the sides are equal
3 0
3 years ago
Which of the following is a factor of 2xy + 8y − 8x − 32?
muminat
You could start by eliminating wrong answer(s):

(a) 5 is definitely not a factor of the given <span>2xy + 8y − 8x − 32,

(d) x^2 - 4x + 16 (not x2 - 4x + 16) is not a factor (it has no y terms)

On the other hand:

(b) 2 definitely divides evenly into </span>2xy + 8y − 8x − 32:  2(<span>xy + 4y − 4x − 16)

(c) x + 4 divides evenly into both xy + 4y and -(4x + 16):
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4 0
3 years ago
I = Prt
Olegator [25]

Answer:

r=3.5\%

Step-by-step explanation:

we know that

The simple interest formula is equal to

I=P(rt)

where

I is the Final Interest Value

P is the Principal amount of money to be invested

r is the rate of interest  

t is Number of Time Periods

in this problem we have

t=5\ years\\ P=\$1,200\\ I=\$210\\r=?

substitute in the formula above

210=1,200(5r)

solve for r

r=210/6,000

r=0.035

convert to percentage (multiply by 100)

r=3.5\%

6 0
3 years ago
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