Answer:
The ordered pair is not a solution.
14.56, use this for anything else you may need. https://www.thecalculator.co/math/Rounding-Calculator-345.html
Answer:
125%
Step-by-step explanation:
.125*100
Bank 1:
$5550 for 5 years with interest 2.3% paid twice a year.
5550 x 1.023^(5 x 2) = 5550 x 1.023^10 = $6967.06 (to 2 decimal places)
(amount of money) x (multiplier - a bit like saying x (100% + 02.3%) because it's increasing the original 100% by 2.3%)^(The time the money is in the account for (years) x how many times a year interest is paid)
6967.06 -5550 = $1417.06 added during the 5 years
bank 2:
$5550 for 5 years with interest 2.2% paid 12 times a year.
5550 x 1.022^(5 x 12) = 5550 x 1.022^60 = $20480.79
20480.79 -5550 = $14930.79 added during the 5 years
comparison:
(bank 1 = + $1417.06 ) < (bank 2 = + $14930.79 )
therefore bank 2 offers the most interest.
hope this helps
Answer:
15 (rounded) 14.7 (not rounded)
Step-by-step explanation: