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
Studentka2010 [4]
3 years ago
8

4. Two savings accounts each start with a $200 principal and have an interest rate of 5%. One account earns simple interest and

the other is compounded annually. Which account will earn more interest over 10 years? How much more?​
Mathematics
1 answer:
slega [8]3 years ago
6 0

Answer:

The compounded annually account will earn more interest over 10 years

Step-by-step explanation:

The rule of the simple interest is I = Prt, where

  • P is the original value
  • r is the rate in decimal
  • t is the time

The rule of the compounded interest is A = P(1+\frac{r}{n})^{nt}, where

  • A is the new value
  • P is the original value
  • r is the rate in decimal
  • n is the number of periods
  • t is the time

The interest I = A - P

∵ Each account start with $200

∴ P = 200

∵ They have an interest rate of 5%

∴ r = 5% = 5 ÷ 100 = 0.05

∵ One account earns simple interest and the other is compounded  

   annually

∴ n = 1 ⇒ compounded annually

∵ The time is 10 years

∴ t = 10

→ Substitute these values in the two rules above

∵ I = 200(0.05)(10)

∴ I = 100

∴ The simple interest = $100

∵ I = A - P

∵ A = 200(1+\frac{0.05}{1})^{1(10)}

∴ A = 325.7789254

∵ I = 325.7789254 - 200

∴ I = 125.7789254

∴ The compounded interest = $125.7789254

∵ The simple interest is $100

∵ The compounded interest is $125.7789254

∵ $125.7789254 > $100

∴ The compounded annually account will earn more interest

   over 10 years

You might be interested in
Seven tenths of what number is 9.1
8090 [49]
.70 * x = 9.1
.70/.70 * x = 9.1/.70
x = 13
7 0
3 years ago
Describe the pattern in the numbers. Write the next number in the pattern. 1, 2/3, 1/3, 0
olga2289 [7]

Answer:

-1/3

Step-by-step explanation:

its subtracting 1/3 every time

6 0
3 years ago
A group of friends were working on a student film. They spent all their budget on props and costumes. They spent $243 on props,
SVETLANKA909090 [29]

Answer:

The total budget for their student film was $540

Step-by-step explanation:

The total percentage of any quantity is 100%

∵ A group of friends was working on a student film

∵ They spent all their budget on props and costumes

∴ The total budget of the props and costumes = 100%

∵ They spent $243 on props

∵ They spent 55% of the total budget on costumes

→ Find the percentage of the props

∴ The percentage of the props = 100% - 55%

∴ The percentage of the props of the total budget = 45%

→ That means 45% of the total budget = 243

∵ 45% × total budget = 243

→ Change the percent to a number by divide it by 100

∵ 45% = 45 ÷ 100 = 0.45

∴ 0.45 × total budget = 243

→ Divide both sides by 0.45

∴ The total budget = 540

∴ The total budget for their student film was $540

4 0
3 years ago
Read 2 more answers
If y=12 when x=3, find y when x =15 ( Y varies directly as x)​
Flauer [41]
Y = kx
when y= 12, x=3
12 = 3k
k = 12/3
k = 4

y = 4x
when x= 15
y = 4(15)
y = 60
4 0
2 years ago
4+(−3)+(−2)<br> help me plllllzzzzzzzzz
lara31 [8.8K]

Answer:

the awnser is -1

Step-by-step explanation:

4+(-3)=1

1+-2=-1

8 0
2 years ago
Read 2 more answers
Other questions:
  • The perimeter of a standard football field,including end zone is 1040 feet. if the field is 360 feet long,how wide is the field
    10·1 answer
  • Please help me with this algebra PLEEASSEee!!!
    5·1 answer
  • 5ABCD is a quadrilateral. AO and BO are the angle bisectors of A
    7·1 answer
  • An 80-eV electron impinges upon a potential barrier 100 eV high and 0.20 nm thick. What is the probability the electron will tun
    5·1 answer
  • What’s the solution set for x? Can someone please answer and explain how they got they’re answer for 40 points.
    10·1 answer
  • Solve 3[-x + (2x+ 1)] =X- 1.<br> x= ?
    7·1 answer
  • HELP WILL TRY TO GIVE BRAINLYIST!!!!!!
    5·2 answers
  • If jenny has 5 apples and gives chloe 2 apples, how many apples does chloe have?
    13·2 answers
  • Nick and his family traveled by train to New York City. The clocks show when the train left the station and when it arrived in N
    12·1 answer
  • Tamara finds the sum of two number cubes rolled at the same time. The chart below shows all possible sums from the 36 possible c
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!