Answer:
Difference= $3,090.15 in favor of compounded interest
Step-by-step explanation:
Giving the following information:
Present value (PV)= $8,500
Ineterest (i)= 0.025/12= 0.00208
Number of periods (n)= 360 months
<u>We will calculate the future value of each option and determine the difference:</u>
<u>Simple interest:</u>
FV= (PV*i*n) + PV
FV= (8,500*0.00208*360) + 8,500
FV= $14,864.8
<u>Compounded interest:</u>
FV= PV*(1+i)^n
FV= 8,500*(1.00208^360)
FV= $17,958.95
Difference= $3,090.15
Answer:
y=-1/2x+3/2
Step-by-step explanation:
m=(y2-y1)/(x2-x1)
m=(-1-1)/(5-1)
m=-2/4
m=-1/2
y-y1=m(x-x1)
y-1=-1/2(x-1)
y=-1/2x+1/2+1
y=-1/2x+1/2+2/2
y=-1/2x+3/2
Answer:
the answer is b
Step-by-step explanation:
the line crosses the y-intercept at 4 which is the intercept and the slope is 3/1 which is 3
$32.072 ≈ $32.07
20% of $38 is equal to $7.60
$38 - $7.60 = $30.40
5.5% of $30.40 = 1.672
$30.40 + $1.672 = $32.072
Answer:
x = 20
Step-by-step explanation:
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