Answer:
90
Step-by-step explanation:
13.5/.15
Step-by-step explanation:
The formula for compound interest is
P = I (1 + r/n)^nt
where
P: the total amount of money in the account after a certain amount of time
I: the principal amount
r: the interest rate as a decimal
n: the number of times a year interest is compounded
t: the number of years passed
For Patrick:
P = 200 (1 + 0.02/12)^12*8
P = 200 (1 + 0.00166667)^96
P = 200 (1.00166667)^96
P = 200 * 1.00166667^96
P = $234.67
For Brooklyn:
P = 200 (1 + 0.04/4)^4*8
P = 200 (1 + 0.01)^32
P = 200 (1.01)^32
P = 200 * 1.01^32
P = $274.99
After 8 years, Patrick has $234.67 and Brooklyn has $274.99
Answer:
easy!
Step-by-step explanation:
Answer:
$160/5
Step-by-step explanation:
160/5 would be 32 and 315/9 would be 35. 32 is less than 35 so $160/5 would be the better deal.
This is the correct answer to the problem
