Answer:
Estimating is used to help predict the answer to a calculation. We use estimation to make calculations more manageable and to give us an idea of the answer. Estimation is used in the construction industry, for example, when buying materials and planning labour.
Answer:
After 10 years
Rick will have $1,480.24
Sally will have $1,500
Step-by-step explanation:
Data provided in the question:
Principle amount = $1,000
Now,
For Rick
Interest rate by bank, r = 4% = 0.04
Time period, n = 10 years
Now,
Final amount after 10 years with Rick using the compounding formula
Final amount = Principle × (1 + r)ⁿ
= $1,000 × (1 + 0.04 )¹⁰
= $1,480.24
For Sally
Amount paid each year = $50
Therefore,
Total amount paid in 10 years = $50 × 10
= $500
Thus,
Final amount Sally will have after 10 years
= $1,000 + Total amount paid in 10 years
= $1,000 + $500
= $1,500
Hence,
After 10 years
Rick will have $1,480.24
Sally will have $1,500
No one cares but the answer probably is 5 70
The first option is correct.
You could do all the math to compare the final answers, but I looked at the part where you add. Using a standard algorithm, when going on to the next digit in the second number, you always add a 0 first. The rest of those options don't include a 0.
