In order to use the simple interest formula, we first define the variables. The interest would be equal to Samuel's desired amount $ 2,488 minus the principal amount of $ 1,800 which is then equal to $ 688. The rate must be in decimal form which is equal to 0.12 while t is expressed in years. Substituting the values, t is equal to 3. Thus, it will take 36 <span>months for Samuel's account balance to reach $2,448. </span>
Answer:
Less then
Step-by-step explanation:
When you dived by a decimal the answer decreases.
Answer:
Area = length x width
Area = (3width - 13) x width
Area = 3 width^2 -13width
56 = 3width^2 -13 width
Width = 7
Length = (3 *7) -13 = 8
Step-by-step explanation:
Answer:
I would rather do the second option of which uses Compound interest that will give a profit of $47.85
Step-by-step explanation:
In this problem we will be exploring the two formulas
1. simple interest
A= P(1+r*t)
2. compound interest
A= P(1+r/n)^nt
Where A= final amount
P= initial amount
r= rate
t= time.
n= number of periods Compounded
1.given data
P= $600
r= 3%= 3/100= 0.03
t= 2 years
A= 600(1+0.03*2)
A= 600(1+0.06)
A= 600(1.06)
A= $636
Interest = 636-600= $36
2. Given data
P= $600
r= 4%= 4/100= 0.04
n= 24
t= 2
A= 600(1+0.04/24)^24*2
A=600(1+0.0016)^48
A=600(1.0016)^48
A= 600*1.07975
A= 647.85
Interest = 647.85-600= $47.85
40℅ is bigger because 1/5 as a percent is 20℅
