Step-by-step explanation:
Compound interest is interest that you earn on interest.And deposits in those accounts will compound the interest you earn, paying additional interest on interest you've already earned.
Simple Interest (S.I.) is the method of calculating the interest amount for a particular principal amount of money at some rate of interest
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The answer is the 3rd option which is -24
Answer:
25.50
Step-by-step explanation:
We are going to denote the number of additional minutes with
, and the total cost of the call with
.
From PONCO, we know that they charge $1.25 for the first minute, and $0.30 for each additional minute; knowing that our additional minute is
and our total cost of the call is
, we can set up an equation to relate the values:
we are going to call this equation (1)
From CowBell, we know that they charge 1.40 for the first minute, and $0.25 for each additional minute. so just like before we can set up an equation to relate the values:
We are going to call this equation (2)
Since the total cost
of equations (1) and (2) is the same, we can equate them to find
:
We can conclude that after 3 additional minutes the cost of the calls will be the same; therefore, the correct answer is
B.