PLEASE HELP !! I will mark brainly

Jim saw that other bank offered the same rates but compounded the interest more often. Consider if he still put $15,000 into a s

Kazeer [188]

Compound interest is the addition of interest on the interest of the principal amount.

<h3>What is compound interest?</h3>

Compound interest is the addition of interest on the interest of the principal amount. It is given by the formula,

$A = P(1+ \dfrac{r}{n})^{nt}$

As it is given that the principal amount is $15,000; while the rate of interest is 2.8%, and the amount is invested for a period of 5 years.

A.) When the interest is charged weekly,

As we know that there are 52 weeks in a year, therefore, n = 52, substitute the values,

$A = P(1+ \dfrac{r}{n})^{nt}\\\\A = 15000(1+ \dfrac{0.028}{52})^{52 \times 5}\\\\A = \$17,253.46$

B.) When the interest is charged daily,

As we know that there are 365 days in a year, therefore, n = 365, substitute the values,

$A = P(1+ \dfrac{r}{n})^{nt}\\\\A = 15000(1+ \dfrac{0.028}{365})^{365 \times 5}\\\\A = \$19,554.55$

C.) When the interest is charged Continuously,

As we know that the formula for continuous compounding is given as,

$A = Pe^{rt}$

Substitute the values, we will get,

$A = 15000 \times (e^{0.024 \times 5})\\\\A= \$16,912.45$

D.) When the interest is charged Monthly,

As we know that there are 12 months in a year, therefore, n = 12, substitute the values,

$A = P(1+ \dfrac{r}{n})^{nt}\\\\A = 15000(1+ \dfrac{0.028}{12})^{12\times 5}\\\\A = \$15211.23$

E.) When the interest is charged Semi-annually,

As we know that the interest is charged Semi-annually, therefore, n = 2, substitute the values,

$A = P(1+ \dfrac{r}{n})^{nt}\\\\A = 15000(1+ \dfrac{0.028}{2})^{2\times 5}\\\\A = \$17,237.36$

F.) When the interest is charged Quarterly,

As we know that the interest is charged Quarterly, therefore, n = 4, substitute the values,

$A = P(1+ \dfrac{r}{n})^{nt}\\\\A = 15000(1+ \dfrac{0.028}{4})^{4\times 5}\\\\A = \$17,245.7$

Learn more about Compound Interest:

brainly.com/question/25857212

4 0

3 years ago

Read 2 more answers

Which equations represent the line that is perpendicular to the line 5x − 2y = −6 and passes through the point (5, −4)? Select t

Kruka [31]

Answer:

y+4=-(2/5)(x-5) ----> equation of the line into point slope form

y=-(2/5)x-2 ----> equation of the line into slope intercept form

2x+5y=-10 ----> equation of the line in standard form

Step-by-step explanation:

step 1

Find the slope of the given line

we have

5x-2y=-6

isolate the variable y

2y=5x+6

y=2.5x+3

The slope m of the given line is m=2.5

step 2

Find the slope of the line perpendicular to the given line

We know that

If two lines are perpendicular, then their slopes are inverse reciprocal each other

so

m1=5/2

the inverse reciprocal is

m2=-2/5

step 3

Find the equation of the line into point slope form

y-y1=m(x-x1)

we have

m=-2/5

point (5,-4)

substitute

y+4=-(2/5)(x-5) ----> equation of the line into point slope form

y=-(2/5)x+2-4

y=-(2/5)x-2 ----> equation of the line into slope intercept form

Multiply by 5 both sides

5y=-2x-10

2x+5y=-10 ----> equation of the line in standard form

4 0

3 years ago

Read 2 more answers

The Milky Way galaxy has atleast 200 million stars right half of this number of stars in standard form

Aloiza [94]

Standard form: 100,000,000 (100 million)

Scientific form: 1 * 10 $^8$ .

5 0

4 years ago

Read 2 more answers

Which of the following are congruence transformations? Check all that apply.

Vaselesa [24]

Congruence refers to the exact similarity in terms of the dimensions of a shape or polygon including as well as the angles of the shape. Rotating does not change the image, as well as reflecting and translating. Hence the answers that apply are A, D and E.

5 0

3 years ago

Read 2 more answers

Eric downloads a 10% off any one item coupon and goes shopping at Gadgets Galore, where he buys a digital camera for $93 and an

koban [17]

The answer is that his total cost is $96.30

6 0

3 years ago

Read 2 more answers