Assuming Jerry calculates that if he makes a deposit of $6 each month at an APR of 4.8%, then at the end of two years the correct balance will be: $158.5
First step is to determine Jerry total deposit
over the two years
Total deposit = 24×$5
Total deposit= $144
Now let determine what the correct balance will be at end of two years
Using this formula
Maximum Amount=Principal (1+r)^t
<em>Where</em>:
Principal=$144
r=4.8%/12 = 0.4% or 0.004
t=24 months
Let plug in the formula
Maximum Balance = $144 (1.004)^24
Maximum Balance = $158.5
Based on the above calculation both Jerry $100 and Benny $163 balance are eliminated or rule out because the correct balance after two years is $158.5
Inconclusion Assuming Jerry calculates that if he makes a deposit of $6 each month at an APR of 4.8%, then at the end of two years the correct balance will be: $158.5
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Answer:
3
Step-by-step explanation:
Correct answer is the 4th choice 16!!!
Hope this helps!!!
Answer:
The spinner is 4 times more likely to land on black.
There were 72 black spins compared to 18 white spins. This means there were 4 times more black spins than white spins; this means the spinner is not equally likely to land on either co
