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
Lena [83]
3 years ago
6

Jim and bill each invest $15,000 into savings accounts that earn 3.5% interest. Jims account earns simple interests and bills ac

count earns compound interest. After 25 years, who will earn more interest and how much more will he earn.
Mathematics
1 answer:
Svet_ta [14]3 years ago
4 0

Answer:

Bill will earn more interest

He will earn $ 20,448.67 from his investment

Step-by-step explanation:

Firstly let us calculate Jim's earnings based on simple interest

A = P(1 + rt)

Calculation:

First, converting R percent to r

a decimal

r = R/100 = 3.5%/100 = 0.035 per year.

Solving our equation:

A = 15000(1 + (0.035 × 25)) = 28125

A = $28,125.00

The total amount accrued, principal plus interest, from simple interest on a principal of $15,000.00 at a rate of 3.5% per year for 25 years is $28,125.00 for Jim

Now let's us calculate bill's investment based on compound interest

Equation

A = P(1 + r)^t

A=15000(1+0.035)^25

A=15000(1.035)^25

A=15000*2.36324498427

A = $ 35,448.67

We see that Bill will earn

$ 20,448.67 from his investment

You might be interested in
HELP TIMED TEST!!!!!!
aalyn [17]

Answer:

-4 and 9

Step-by-step explanation:

factored

(x - 9)(x + 4) = 0

with   this  x*x - 5x - 36 = 0

so  x = 9  or  x = -4

7 0
3 years ago
A cylinder has a volume of 245 cubic units and a height of 5 units. The diameter of the cylinder is
frutty [35]

The independent variable here is b, the number of mats; the dependent var. is p, the cost of b mats. Thus, p = f(b).


Here, 245 units^3 = pi*r^2*(5 units), or


245 units^3

r^2 = ------------------- = 15.61 units^2. Thus, the radius is sqrt(15.61 units^2), or

5(3.14) units 3.95 units. The DIAMETER is d = 2*r = 7.90 units.

8 0
3 years ago
Read 2 more answers
The polygons in each pair are similar. Find the scale factor of the smaller figure to the larger figure
Cloud [144]

Answer:

1:2

Step-by-step explanation:

5 0
3 years ago
Please help me again
shusha [124]

Answer:

BC is 25 units

Step-by-step explanation:

AB = AC

4x + 4 = 6x - 14

4x + 4 - 4x + 14 = 6x - 14 - 4x + 14

18 / 2 = 2x / 2

9 = x

2(9) + 7

18 + 7

25

Answer:  BC is 25 units

5 0
3 years ago
Prove the following identities : i) tan a + cot a = cosec a sec a​
inysia [295]

Step-by-step explanation:

\tan \alpha + \cot\alpha = \dfrac{\sin \alpha}{\cos \alpha} +\dfrac{\cos \alpha}{\sin \alpha}

=\dfrac{\sin^2\alpha + \cos^2\alpha}{\sin\alpha\cos\alpha}=\dfrac{1}{\sin\alpha\cos\alpha}

=\left(\dfrac{1}{\sin\alpha}\right)\!\left(\dfrac{1}{\cos\alpha}\right)=\csc \alpha \sec\alpha

7 0
3 years ago
Other questions:
  • Yesterday, the snow was 2 feet deep in front of Archie’s house. Today, the snow depth dropped to 1.6 feet because the day is so
    9·2 answers
  • If you take out a $1,000 loan for college at 7% interest, what is the principal?
    6·2 answers
  • A car dealership pays a wholesale price of $12,000 to purchase a vehicle. The car dealership wants to make a 32% profit. The dea
    15·1 answer
  • A guy wire makes a 67° angle with the ground. Walking out 32 feet further from the tower, the angle of elevation to the top of t
    5·1 answer
  • What is the radius of the circle?
    9·1 answer
  • A caterer prepares twice as many pizzas as she usually prepares for a large party. The caterer usually prepares 4 pizzas. The ca
    11·1 answer
  • What is the place value of the 4 in 1,453,897
    6·1 answer
  • PLS HURRY I HAVE 5 MINS MATH EASY 7th GRADER HERE
    12·2 answers
  • 5/6 divided by [13/11]
    13·1 answer
  • Which expression represents half of a number,n,plus 3?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!