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belka [17]
4 years ago
14

Please help!

Mathematics
1 answer:
blagie [28]4 years ago
8 0
Given the two options above, in order to come up with the best plan we have to calculate the future value of money in each plan.
compound interest is given by:FV=p(1+ \frac{r}{100})^n

Option 1
p=$500
r=2%=0.02
t=1 year
FV=500(1+0.02)^1=$510

Option 2
p=$500
r=2/12=1/6
n=1*12=12
hence:
FV=500(1+\frac{ \frac{1}{6}}{100})^{12}

=$509.09
Comparing the two plans above, option 1 is the best.

b] Option 1 is the best because she will secure $510 as compared to option 2 which has interest rate that reduces her amount by $1 after one year due to annual charges. The total amount of money she will have at the end of the plan is $510. 


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Step-by-step explanation:

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Step-by-step explanation:

Since Randy surveyed one student out of every 5 he came across in the cafeteria, it means that if he came across five people, he will survey one, if he came across ten students, he will survey 2 and so on.

If then he surveyed a total of 140 students, then we can actually multiply the number by 5 to know the exact number of students he possibly came across in the cafeteria:

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If 84 out of the surveyed students supported the purchase, we can find what that figure represents in the total number of students in the cafeteria:

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