The amount in simple interest is $3624 and in compound interest is $3674 the difference is of $50. So he should choose Simple interest.
<h3>What is compound and simple interest?</h3>
Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period.
Here we have the principle is $3000 for 4 years at the rate of interest of 5.2%. Now we will calculate the total amount by simple interest and compounded annually.
By using Simple interest:-
So the total amount will be =3000+624=$3624
By using the Compound interest formula:
The difference between the two amounts will be =3764-3624=$50
Hence amount in simple interest is $3624 and in compound interest is $3674 the difference is of $50. So he should choose Simple interest.
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Answer:
132
Step-by-step explanation:
12 times 11= 132 PLEASE MARK BRAINLIEST
Answer:
(- 2, 4 )
Step-by-step explanation:
y = 2x + 8 → (1)
y = - 2x → (2)
substitute y = 2x + 8 into (2)
2x + 8 = - 2x ( add 2x to both sides )
4x + 8 = 0 ( subtract 8 from both sides )
4x = - 8 ( divide both sides by 4 )
x = - 2
substitute x = - 2 into (2)
y = - 2(- 2) = 4
solution is (- 2, 4 )
Answer:
Step-by-step explanation:
a)
b)
c)
- 275 + 125x = 1850 - 100x
- 125x + 100x = 1850 - 275
- 225x = 1575
- x = 1575 / 225
- x = 7
The answer is 7 months
It's slightly ambiguous because the year isn't an even number of weeks, so sometimes that extra day falls on a weekend and sometimes on a weekday. We'll assume a weekend; that makes the numbers come out nice.
Total working days, 52 five day weeks minus 30 days vacation
So his daily rate is
dollars per day
Answer: A
It's closer to $518 when we count the extra day as a weekday.