1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vikki [24]
3 years ago
13

Amelia plans to open a compound interest savings account with a $22,000 deposit at a bank with an annual interest rate of 5.25%.

How much more interest will she earn over 10 years if she chooses an account that compounds interest quarterly instead of annually?
Mathematics
1 answer:
mihalych1998 [28]3 years ago
8 0
Compound interest formula

<span>A = P(1+r/n)^(nt)</span>

annually:

quarterly:

A = 22,000 ( 1 + 0.0525/1 )^10  = 36,698.11

quarterly:

A = 22,000 ( 1 + 0.0525/4 )^(4*10 ) = 37,063.29

37,063.29 - 36,698.11 = 365.18


answer: compound interest quarterly earned $365.18 more than annually


You might be interested in
A baker has 3 eggs to use for making cakes. Each cake takes 5 eggs.
stepladder [879]

Answer:

Question 1 = 1  Question 2 = 2 no eggs remain because 2 eggs needed

Step-by-step explanation:

5 0
2 years ago
Each marble bag sold by hans marble company contains 7 yellow marbles for every 5 blue marbles. if a bag has 35 blue marbles, ho
Pavlova-9 [17]
The answer is 49 because since she multiplied 5 by 7 you have to do the same to yellow marbles so 7×7 = 49
5 0
3 years ago
Find the value of x so the figures have the same area
polet [3.4K]

Answer:

B) 4.5

Step-by-step explanation:

The area of the first figure is 10x

The area of the second figure is 6(x+3)=6x+18

To solve, find the x that makes 10x=6x+18

   1) 10x=6x+18

   2) 4x=18

   3) x=4.5

To check work)

   1) 10(4.5)=6(4.5)+18

   2) 45=27+18

   3) 45=45

4 0
3 years ago
1. Jerry has a photo that is 7 inches wide and 5 inches high. He wants to enlarge it so that the new photo has a
Alexandra [31]

Answer:

9 Inches

Step-by-step explanation:

8 0
3 years ago
Helppppp fastttttttttttttttttttt
boyakko [2]

Answer:

C.

Step-by-step explanation:

think big it is pretty easy

8 0
3 years ago
Other questions:
  • What is the exact volume of a cylinder 6in 9in
    12·1 answer
  • What is the simplification of <br> 5/√10
    7·1 answer
  • 1. Draw a set of railroad tracks such that the lengths of horizontal ties form a geometric sequence.
    12·1 answer
  • How many cups of flour do we put in the mix
    5·1 answer
  • Devin drew a rectangle that is 4 inches by 9 inches. It has an area of 36 square inches and a perimeter of 26 inches.
    14·2 answers
  • Find the coefficient of the 4th term in expansion of (x +2 )^5
    8·1 answer
  • Daniel has $600 in a checking account, has $12,000 in a savings account,
    13·2 answers
  • If the spin rate of the CD is 580 rpm what distance is traveled by the piece of dust (in radians) in 2.9 mins
    11·1 answer
  • Write an equation in point-slope form for the line that passes through the point with the given slope. (-5, -8), m = -2 *
    13·1 answer
  • Find the volume of the cylinder below. Leave your answer in terms of pi.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!