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
navik [9.2K]
2 years ago
9

Advance Algebra Logarithm Task

Mathematics
1 answer:
valina [46]2 years ago
4 0

9514 1404 393

Answer:

  3.65% monthly

Step-by-step explanation:

The same amount is invested for the same period in all accounts, so we only need to determine the effective annual rate in order to compare the accounts.

For compounding annual rate r n times per year, the effective annual rate is ...

  (1 +r/n)^n -1

For the same rate r, larger values of n cause effective rate to be higher. As a consequence, we know that 3.65% compounded quarterly will not have as great a yield as 3.65% compounded monthly. The effective rate for the monthly compounding is ...

  (1 +0.0365/12)^12 -1 = 3.712%

The effective rate for continuous compounding is ...

  e^r -1

For a continuously compounded rate of 3.6%, the effective annual rate is ...

  e^0.036 -1 = 3.666%

This tells us the best yield is in the account bearing 3.65% compounded monthly.

_____

If i is the effective annual rate of interest as computed by the methods above, then the 10-year account balance will be ...

  10000×(1 +i)^10

This is the formula used in the spreadsheet to calculate the balances shown.

You might be interested in
Solve the inequality 2(4x+1)<3(2x-3)
Ostrovityanka [42]

Answer:

X<-11/2

Step-by-step explanation:

Hope I helped:)

5 0
2 years ago
What does 2.67+8.52 equal
Anon25 [30]

Answer:

11.19

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
The slope of the function on the left is multiplied by p, and q is added to the y-intercept to arrive at the function on the rig
Katarina [22]
I think its A
Hope its help for your questions
7 0
2 years ago
May someone help me out with this please
Ilia_Sergeevich [38]
P = $13000, r =6% = 0.06 per year, t = 90 days =  90/360 = 0.25 year

Interest , I = Prt

Interest , I = 13000*0.06*0.25 = 195

Interest owed = $195
6 0
2 years ago
Use the distributive property to simplify the expression 7 (8x+3). <br><br>7(8X+3=​
Lady_Fox [76]

Answer:

56x+21

Step-by-step explanation:

7times 8x is 56x

7 times 3 is 21

add them together and you get 56x+21

8 0
3 years ago
Other questions:
  • Austin Avenue Accessories borrowed $14,000 for 3 years at a simple interest rate of 6.6%. The interest is to be paid semiannuall
    5·1 answer
  • Pls help this is urgent I'll give anyone who answers brainiest answer​
    12·1 answer
  • What is 9,235.2 written in scientific notation?
    15·1 answer
  • Given A(3, 4), B(4, 3) and C(2, 1), what are the coordinates of C', the image of C under a rotation of 90 degrees about the orig
    11·1 answer
  • A triangle with two vertices located at (5, −8) and (5, 4) has an area of 48 square units. Determine one possible location of th
    10·1 answer
  • A beef stew recipe calls for 3 cups of vegetable juice. Find the number of fluid ounces of vegetable juice needed for the recipe
    6·2 answers
  • Wanda rode her bike 5km the first day and she rode her bike 10,000m the second day. How many meters, in total, did Wanda ride in
    6·1 answer
  • The total length of a road trip was 16.2 hours. If highway signs are posted every 0.6 hours, including one at the end of the roa
    14·1 answer
  • What is the greatest common factor of 40x^ 5 y^ 2 and 32x^ 2 y^ 3 ?
    5·1 answer
  • Write an algebraic expression for the word phrase: the quotient of r and 12. Or. 12 O p=12 Or- 12 h Ort 12​
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!