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
Agata [3.3K]
3 years ago
13

Jerry and Carlos each have $1,000 and are trying to increase their savings. Jerry will keep his money at home and add $50 per mo

nth from his part-time job.
Carlos will put his money in a bank account that earns a 4% yearly interest rate, compounded monthly. Who has a better plan for increasing his savings?
Mathematics
1 answer:
8_murik_8 [283]3 years ago
8 0

Answer:

Jerry has a better saving plan for increasing his savings than Carlos

Step-by-step explanation:

Jerry's initial principal = $1000

Carlos initial principal = $1000

Jerry add $50 monthly this means that in 6 months he has

$50 x 6 = $300 as interest

This means that at the end of 6 months, Jerry would have $1,300 dollars at home

For Carlos the interest rate is 4% per year compounded monthly

If we calculate his interest per month we have:

Interest = 1000 x 4/(100 x 12) = $3.33

2nd month = 1003.33 x 4/(100 x 12) = $3.34

3rd month = 1006.68 x 4/(100 x 12) = $3.36

4th month = 1010.04 x 4/(100 x 12) = $3.37

5th month = 1013.41 x 4/(100 x 12) = $3.38

6th month = 1016.79 x 4/(100 x 12) = $3.40

At the end of 6 month, Carlos would have $1020.18 in the bank

Hence, Jerry has a better saving plan for increasing his savings than Carlos

You might be interested in
Pls help on timer D:
Sliva [168]
1st is 3 2nd is undefined 3rd is -3/2 4th is 1/4
5 0
3 years ago
Read 2 more answers
What is the volume of the prism?
jolli1 [7]
V=a*b*c, a=(2+1/2), b=(2+1/2), c=(6+1/2)
V=(2+1/2)*(2+1/2)*(6+1/2) = 15/2 = 7+1/2
(seven whole and one second)
7 0
2 years ago
Read 2 more answers
What is the range of function y=√(-2cos^2x+3cosx-1)
Ugo [173]
Hello Friend,here is the solution for your question


<span>so the given function is </span>
y= √(-2cos²x+3cosx-1)
 i.e = √[-2(cos²x-3/2+1/2)]
i.e = √[-2(cosx-3/4)²-9/16+1/2]
i.e. = √[-2(cos-3/4)²-1/16]
i.e. = √[1/8-3(cosx=3/4)²]-----------(1)

Now here  in this equation is this quantity :-
<span>(cosx=3/4)²----------------(2)   is to it's minimum value then the whole equation </span>
<span>i.e. = √[1/8-3(cosx=3/4)²] will be maximum and vice versa </span>


And we know that cosx-3/4 will be minimum if cosx=3/4
<span>therefore put this in (1) we get </span>
(cosx=3/4)²=0    [ cosx=3/4]
<span>hence the minimum value of the quantity (cosx=3/4)² is 0 </span>

<span>put this in equation (1) </span>
we get ,
i.e. = √[1/8-3(cosx=3/4)²]
   =√[1/8-3(0)]        [ because minimum value of of the quantity (cosx=3/4)² is 0 ]
     =√1/8
      =1/(2√2)

<span>this is the maximum value now to find the minimum value </span>

<span>since this is function of root so the value of y will always be ≥0 </span>

<span>hence the minimum value of the function y is 0 </span>


<span>Therefore, the range of function </span>y is [0,1/(2√2)]


__Well,I have explained explained each and every step,do tell me if you don't understand any step._

8 0
3 years ago
The Venn Diagram below models probabilities of three events, A,B, and C.
Keith_Richards [23]

Answer: dependent

Step-by-step explanation:

4 0
3 years ago
Read 2 more answers
The water slide is 130 meters from the top to bottom. The vertical height of the slide is 50 meters. What is the angle of elevat
amm1812

Answer:

180 meters?......?..?.?.?.

8 0
3 years ago
Other questions:
  • What value of x makes the equation true <br> 2 (6x-1) = -38
    9·1 answer
  • PLEASE HELP 15 POINTS
    12·1 answer
  • What is 02.15cm in meters
    7·1 answer
  • One layer of earth's atmosphere is called stratosphere
    12·1 answer
  • Need help with the question that says how long is the string in centimeters.SHOW YOUR WORK!!!
    5·1 answer
  • Find the value of the trigonometric ratio​
    8·2 answers
  • What is the volume of the complex shape?
    11·2 answers
  • Triangle ABC what is the measurement of Angle C on degrees if Angle A is 32.8° and Angle is 80°.​
    13·1 answer
  • Seven is more than 2 plus a number,q, can be shown by the inequality 2+q&lt;7. which causes for q make this a true statement.
    10·1 answer
  • Evaluate the expression for r = 14.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!