1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Illusion [34]
3 years ago
15

Two banks offer compound intereston your investment while you deposit with them. Bank A calculates compound interest annuallyand

Bank B calculates half-yearly. Which bank do you chooseto invest and why? Justifyyour answer with simple example.
Mathematics
1 answer:
sladkih [1.3K]3 years ago
3 0

Answer:

Bank B because the more often you compound interest, the more interest you earn.

Step-by-step explanation:

Bank A compounds the interest once a year.

Bank B compounds the interest twice a year.

Let's create an example of two investments of the same amount of money, the same interest rate, and the same time. The only difference will be the number of times the interest is compounded per year.

Compound interest formula:

A = P(1 + \dfrac{r}{n})^{nt}

where

A = future value

P = principal invested

r = interest rate

t = number of years

n = number of times interested is compounded in 1 year

Example:

P = $1000

r = 5%

t = 5 years

Bank A: n = 1

Bank B: n = 2

Bank A:

A = $1000(1 + \dfrac{0.05}{1})^{1 \times 5} = $1276.28

Bank B:

A = $1000(1 + \dfrac{0.05}{2})^{2 \times 5} = $1280.08

Bank A's investment is worth $1276.28 after 5 years, but Bank B's investment is worth $1280.08 after the same 5 years. Compounding twice per year instead of only once per year earns more interest.

You might be interested in
Having a small brain moment, can you please help and show work
ankoles [38]

Answer:

The value if x is 0.9875.

Step-by-step explanation:

First, we have to get rid of brackets by expanding :

0.5(2x +  \frac{3}{4} ) -  \frac{1}{3} (0.1 + x) = 1

0.5(2x) + 0.5( \frac{3}{4} ) -  \frac{1}{3} (0.1) -  \frac{1}{3} (x) = 1

x +  \frac{3}{8}  -  \frac{1}{30}   -   \frac{1}{3} x = 1

Next you have to collect like terms :

x  -  \frac{1}{3} x +  \frac{3}{8}  -  \frac{1}{30}  = 1

\frac{2}{3} x +  \frac{41}{120}  = 1

Lastly, you can solve x :

\frac{2}{3} x = 1 -  \frac{41}{120}

\frac{2}{3} x =  \frac{79}{120}

x =  \frac{79}{120}  \div  \frac{2}{3}

x =  \frac{79}{80}

x = 0.9875

8 0
3 years ago
Find the measures of the numbered angles
inessss [21]

Answer:

angle 1 is 90 degrees because of the kite theorem:

THEOREM: If a quadrilateral is a kite, the diagonals are perpendicular.

angle 2 is 58 degrees because 180-90-32=58 degrees

Step-by-step explanation:

5 0
3 years ago
9/4,3/8,1/3 what is the least common denominator plz show work
Alexus [3.1K]
4, 8, and 3 must all go into the number. find the LCM(4,8) is 8. the LCM(8,3) is 24. that's your answer, 24
7 0
3 years ago
Read 2 more answers
Six students collect buttons for a project. The students have 10, 14, 15, 12, 13, and 14 buttons. They divide the buttons evenly
vovangra [49]

Answer:

13 buttons

Step-by-step explanation:

The first step is to add the buttons received by the 6 students.

= 10 + 14 + 15 + 12 + 13 + 14

= 78 buttons

Therefore the number of buttons received by each students can be calculated as follows

= 78/6

= 13 buttons

Hence each student will receive 13 buttons

6 0
2 years ago
Read 2 more answers
Please can I have some urgent homework will mark anyone whjo does it as brainliest
polet [3.4K]

Answer:

<h2>210 cm³</h2>

Step-by-step explanation:

let V represent the volume of the triangular prism

V = base × height

base = (7×6)/2 = 42/2 = 21

height = 10

then

V = 21×10 = 210

7 0
3 years ago
Other questions:
  • 9 more than two-sevenths a number is 45. What is the number?<br> Also, show an explanation.
    10·1 answer
  • 100 points and brainliest!!!!
    13·2 answers
  • The rest of the students in the play are from Mr. Logan’s class and Ms. Gardner’s class.
    15·1 answer
  • Define the terms factor and quantity. Then for the expression −3(4+x)(z−2−y), list all of the factors, and specify which are qua
    9·1 answer
  • A snail moves at a speed of 8.394 inches per minute.If the snail keeps moving at this rate, about how many inches will it travel
    7·1 answer
  • Tami would like to withdraw $10,364.10 at the end of each year, for 10 years, from an account paying 2.3% compounded annually. D
    12·2 answers
  • Solve the linear inequality below.<br> 9x – 8 &gt; 4x + 7
    5·2 answers
  • Given the slope intercept form of the equation identified the slope y=3/4x-3​
    5·1 answer
  • Describe a situation where each of the following quantities might be useful.
    13·1 answer
  • HELP PLSSS I NEED THIS ASAP
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!