Answer:
y = - 24
Step-by-step explanation:
Given that y varies directly with x then the equation relating them is
y = kx ← k is the constant of variation
To find k use the condition y = 12 when x = - 3
k = =
= - 4
y = - 4x ← equation of variation
When x = 6, then
y = - 4 × 6 = - 24
The amount in simple interest is $3624 and in compound interest is $3674 the difference is of $50. So he should choose Simple interest.
<h3>What is compound and simple interest?</h3>Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period.
Here we have the principle is $3000 for 4 years at the rate of interest of 5.2%. Now we will calculate the total amount by simple interest and compounded annually.
By using Simple interest:-
So the total amount will be =3000+624=$3624
By using the Compound interest formula:
The difference between the two amounts will be =3764-3624=$50
Hence amount in simple interest is $3624 and in compound interest is $3674 the difference is of $50. So he should choose Simple interest.
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