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
lana66690 [7]
3 years ago
15

Shani borrowed $5000 at an annual interest rate of 4% compounded yearly. William borrowed the same amount of money at an annual

interest rate of 6% compounded yearly. How much more interest will William pay than Shani at the end of 3 years?
Mathematics
1 answer:
Natalka [10]3 years ago
6 0

Answer: William will pay $ 330.76 more interest than Shani at the end of 3 years.

Step-by-step explanation:

Compound interest = P((1+r)^t-1)<em> , </em>P= principal , r= rate of interest , t= time

Given: P = $5000 , t= 3 years

For Shani , r= 4% = 0.04

Compound interest = 5000((1+0.04)^3-1)

=5000(1.124864-1)\\\\=5000(0.124864)\\\\=\$\ 624.32

For William, r= 6%= 0.06

Compound interest = 5000((1+0.06)^3-1)

=5000(1.191016-1)\\\\=5000(0.191016)\\\\=\$\ 955.08

Difference = $ ( 955.08- 624.32)

= $ 330.76

Hence, William will pay $ 330.76 more interest than Shani at the end of 3 years.

You might be interested in
What is the slope of a perpendicular line to 3.2 + 4y = 9?
inysia [295]
The answer would be Undefined
5 0
2 years ago
9) Which situation can be represented by the equation 56 - 2x
Sloan [31]
A I did this on edu sooo..... ya
6 0
3 years ago
Read 2 more answers
Solve for m.<br><br> 5m+72=−2m+52
Tom [10]
M=-20/7. .........!!!!!!!!
6 0
3 years ago
Read 2 more answers
Which of the following equations is of a parabola with a vertex at (0, 6)?
RoseWind [281]

Answer:

y= x^2 + 6

Step-by-step explanation:

y= x2 + 6 (which should be written as y= x^2 + 6) has the form y - k = a(x - h)^2.  For y= x^2 +  6, h = 0 and k  = 6.  Thus the vertex is (0, 6)

4 0
3 years ago
What 3 numbers give the same result when multiplied and added together? How do you know?
ella [17]

Answer:

1,2 and 3 because this three are positive numbers and when added and multipled both gives the same answer 6. 1,2 and 3 are the positive integers and the result of their addition and their multiplication is same .

Step-by-step explanation:

4 0
3 years ago
Read 2 more answers
Other questions:
  • Please help with c and d​
    13·2 answers
  • The quotient of m and 11 minus 3 as a algebraic expression
    8·1 answer
  • Where are the Cookies? Mrs. Goodwin left a tray of eookies on the counter early one morning. Dean walked by before lunch and dec
    13·1 answer
  • Mr seeds travel 242 in 60 days at these rate who much it will travel in 40 days
    6·2 answers
  • WILL GIVE BRAINLIEST :)
    5·1 answer
  • I need help with this
    10·2 answers
  • What is equivalent to -1/4y -2 1/4y + 1/2 (4-2y) a) -3y + 2 b) -3 1/2y + 2 c) -4y + 4
    13·1 answer
  • Advanced Mathematical Decision Making......
    9·1 answer
  • I need help plsssssss
    5·1 answer
  • a norman window has the shape of a rectangle surmounted by a semicircle. if the perimeter of the window is 25 feet, express the
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!