Answer:
Difference= $3,090.15 in favor of compounded interest
Step-by-step explanation:
Giving the following information:
Present value (PV)= $8,500
Ineterest (i)= 0.025/12= 0.00208
Number of periods (n)= 360 months
<u>We will calculate the future value of each option and determine the difference:</u>
<u>Simple interest:</u>
FV= (PV*i*n) + PV
FV= (8,500*0.00208*360) + 8,500
FV= $14,864.8
<u>Compounded interest:</u>
FV= PV*(1+i)^n
FV= 8,500*(1.00208^360)
FV= $17,958.95
Difference= $3,090.15
15. [4] insufficient information. only given SA
16. There are 3 right triangles, 3 Pythagorean theorem equations
x²+b²= 16²
12²+a² = x²
a²+4² = b²
combine equations using substitution to get in terms of only x
substitute b² for (a² +x²) in first equation
x²+a²+4²=16²
substitute a² for (x² - 12²)
x²+x²-12²+4² = 16²
solve for x
2x² - 144 + 16 = 256
2x² = 256 + 144 - 16
2x² = 384
x² = 384/2
x² = 192
x = 13.85
rounded to nearest tenth, x = 13.9
The answer is 1952 because you have to add all of the numbers together
The answer would be 390+ 390 =780