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2 years ago

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Whitney deposits $9,000 for two years. She compares two different banks. State Banks will pay her 4.1% interest, compounded mont

hly. Kings Savings will pay her 4.01% interest, compounded continuously.

1 answer:

dlinn [17]2 years ago

3 0

Answer:

1)state bank

2)$16.21

Step-by-step explanation:

CHECK THE COMPLETE QUESTION BELOW

Whitney deposits $9,000 for two years. She compares two different banks. State Banks will pay her 4.1% interest, compounded monthly. Kings Savings will pay her 4.01% interest, compounded continuously.Which bank pays higher interest? How much higher?

The Amount in the formula for compound interest is

A= P(1+r)^2

P = principal amount,

r = rate per periods,

t = number of periods,

To know the interest she got from the State bank, we say

P = $ 9000, r = 4.1% = 0.041, t = 2 years,

A= 9000(1+0.041)^2

A= 9000(1.041)^2

= 9767.74

Then interest earned = A - P

= 9767.74 - 9000

= $ 767.74

To know the interest she got from the State bank, we say

P = $ 9000, r = 4.01% = 0.0401, t = 2 years,

A= 9000(1+0.0401)^2

A= 9000(1.0401)^2

= 9751.53

Then interest earned = A - P

= 9767.74 - 9000

= $ 751.53

The difference between the two interest is ($ 767.74 - $ 751.53)

=$16.21

Hence state bank will have $16.21 higher interest

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Find a power series for the function, centered at c, and determine the interval of convergence. f(x) = 9 3x + 2 , c = 6

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$\frac{9}{3x + 2} = 1 - \frac{1}{3}(x - \frac{7}{3}) + \frac{1}{9}(x - \frac{7}{3})^2 - \frac{1}{27}(x - \frac{7}{3})^3 ........$

The interval of convergence is: $(-\frac{2}{3},\frac{16}{3})$

Step-by-step explanation:

Given

$f(x)= \frac{9}{3x+ 2}$

$c = 6$

The geometric series centered at c is of the form:

$\frac{a}{1 - (r - c)} = \sum\limits^{\infty}_{n=0}a(r - c)^n, |r - c| < 1.$

Where:

$a \to$ first term

$r - c \to$ common ratio

We have to write

$f(x)= \frac{9}{3x+ 2}$

In the following form:

$\frac{a}{1 - r}$

So, we have:

$f(x)= \frac{9}{3x+ 2}$

Rewrite as:

$f(x) = \frac{9}{3x - 18 + 18 +2}$

$f(x) = \frac{9}{3x - 18 + 20}$

Factorize

$f(x) = \frac{1}{\frac{1}{9}(3x + 2)}$

Open bracket

$f(x) = \frac{1}{\frac{1}{3}x + \frac{2}{9}}$

Rewrite as:

$f(x) = \frac{1}{1- 1 + \frac{1}{3}x + \frac{2}{9}}$

Collect like terms

$f(x) = \frac{1}{1 + \frac{1}{3}x + \frac{2}{9}- 1}$

Take LCM

$f(x) = \frac{1}{1 + \frac{1}{3}x + \frac{2-9}{9}}$

$f(x) = \frac{1}{1 + \frac{1}{3}x - \frac{7}{9}}$

So, we have:

$f(x) = \frac{1}{1 -(- \frac{1}{3}x + \frac{7}{9})}$

By comparison with: $\frac{a}{1 - r}$

$a = 1$

$r = -\frac{1}{3}x + \frac{7}{9}$

$r = -\frac{1}{3}(x - \frac{7}{3})$

At c = 6, we have:

$r = -\frac{1}{3}(x - \frac{7}{3}+6-6)$

Take LCM

$r = -\frac{1}{3}(x + \frac{-7+18}{3}+6-6)$

r = -\frac{1}{3}(x + \frac{11}{3}+6-6)

So, the power series becomes:

$\frac{9}{3x + 2} = \sum\limits^{\infty}_{n=0}ar^n$

Substitute 1 for a

$\frac{9}{3x + 2} = \sum\limits^{\infty}_{n=0}1*r^n$

$\frac{9}{3x + 2} = \sum\limits^{\infty}_{n=0}r^n$

Substitute the expression for r

$\frac{9}{3x + 2} = \sum\limits^{\infty}_{n=0}(-\frac{1}{3}(x - \frac{7}{3}))^n$

Expand

$\frac{9}{3x + 2} = \sum\limits^{\infty}_{n=0}[(-\frac{1}{3})^n* (x - \frac{7}{3})^n]$

Further expand:

$\frac{9}{3x + 2} = 1 - \frac{1}{3}(x - \frac{7}{3}) + \frac{1}{9}(x - \frac{7}{3})^2 - \frac{1}{27}(x - \frac{7}{3})^3 ................$

The power series converges when:

$\frac{1}{3}|x - \frac{7}{3}| < 1$

Multiply both sides by 3

$|x - \frac{7}{3}|$

Expand the absolute inequality

$-3 < x - \frac{7}{3}$

Solve for x

$\frac{7}{3} -3 < x$

Take LCM

$\frac{7-9}{3} < x$

$-\frac{2}{3} < x$

The interval of convergence is: $(-\frac{2}{3},\frac{16}{3})$

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