Answer:
0.5,0.25,3/8,1 1/4
Step-by-step explanation:
Answer: 70,000
Step-by-step explanation:
9t = 27.99
5t = ?
Cross-multiply : 9t? = 139.95t
?=15.55
Assuming he had not dealt with the bank offering plan B before, he has nothing deposited two years back. Hence plan B only gives him only 0.2% annual interest for his deposit.
Plan A gives 0.25% for his deposit all the time.
So plan A is more advantageous.
For durations,
To reach $1,000,000 from $100,000, the money needs to grow 10 fold, or
(1+i)^n=10
n=log(10)/log(1+i).
So for plan A:
n=log(10)/log(1.0025)=922.18 years, while for
plan B
n=log(10)/log(1.0020)=1152.44 years.
Hope the bank(s) still exist at that time.
Have the kids answer questions, if correct they get to shoot a small ball into a garbage can for extra points! FUN!
~Hope This Helps! <3
