The formula to find the amount is
here A is amount
P is the principal
'r' is the rate of interest
n is the number of years.
Case 1.
Stevan invests
P =$ 20,000
r = 3% = 0.03
n = 10 years
Hence the interest earned
= A - P = 26878.33 - 20000 = $6878.33
Case 2.
Evan invests
P = $10,000
r = 7% = 0.07
n = 7 years
Hence the interest earned
= A - P = 16057.81 - 10000 = 6057.81
Difference in the interest = 6878.33 - 6057.81 = $820.52
Rounded to the nearest dollar difference in interest = $821
The interest rate offered would decrease. The federal reserve sets the rates to help prevent inflation, deflation etc
Answer:
Solving the inequality we get:
Step-by-step explanation:
We need to solve and graph the inequality
Solving:
Step 1: Multiply 3 with terms inside the bracket
Step 2:Subtracting 51 on both sides
Step 3: Subtract 14x on both sides
Step 4: Divide both sides by 7
Solving the inequality we get:
The graph is attached in the figure below.
Answer:
Step-by-step explanation:
C * D = {(x,y): x is an element of C and y is an element of D.}
C * D = { (1,4), (1,5), (1,6), (2,4), (2,5), (2,6) }
Answer:
Step-by-step explanation:
set the two equations equal to each other then solve for n
6n + 3 = 4n + 11
2n = 8
n = 4
plug n in for both equations
6(4) + 3
24 + 3 = 27
4(4) + 11
16 + 11 = 27
27 + 27 = 54
the distance is 54