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Colt1911 [192]
2 years ago
13

Northern Bank has two types of account. Both accounts pay compound interest. Cash savings account Interest 2.5% per annum Shares

account Interest 3.5% per annum Ali invests £2000 in the cash savings account. Ben invests £1600 in the shares account. (a) Work out who will get the most interest by the end of 3 years. You must show all your working.
Mathematics
1 answer:
musickatia [10]2 years ago
4 0

Answer: Ben will have the most interest.

Step-by-step explanation:

Ali after 3 years.

To use compound interest, the formula is:

= Investment * ( 1 + rate) ^ no. of periods

= 2,000 * ( 1 + 2.5%)³

= £‭2,153.78

Interest = Amount after 3 years - investment

= 2,153.78 - 2,000

= £153.78

Ben after 3 years.

= 1,600 * (1 + 3.5%)³

= £1,773.95

Interest = 1,773.93 - 1,600

= £173.93

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Answer:

Please check the explanation.

Step-by-step explanation:

<u>Determining equation B from Equation A</u>

Given the equation A

5\:=\:-2\:\left(x\:-\:1\right)

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5= -2x+2    which is equation B

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<u>Determining equation A from Equation B</u>

Given the equation B

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Factor out common term -2 on the right-hand side of the equation

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5 0
3 years ago
PLEASE HELP I FORGOT EVERYTHING
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\huge{\textbf{\textsf{{\color{navy}{An}}{\red{sw}}{\orange{er}} {\color{yellow}{:}}}}}

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6 0
2 years ago
Read 2 more answers
(-11)-((-7)+5<br> help me solve please !!
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Answer:

1 or -9, depends on the problem, see below.

Step-by-step explanation:

-11--7+5

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-11+7+5

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And this leaves us with:

1

But I saw there was a parentheses, was it misplaced or was one not added? If one was not ended to the end, then the answer would be different.

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-7+5 is negative 2, so:

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Once again, two negatives make a positive, so our new equation would be:

-11+2

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-9

6 0
2 years ago
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