Answer:
the rate compounded semi-annually is compounded twice in a year. thus, this rate is higher than the rate compounded annually which is compounded once in a year
Step-by-step explanation:
The formula for calculating future value:
FV = P (1 + r/m)^mn
FV = Future value
P = Present value
R = interest rate
N = number of years
m = number of compounding
For example, there are two banks
Bank A offers 10% rate with semi-annual compounding
Bank B offers 10% rate with annual compounding.
If you deposit $100, the amount you would have after 2 years in each bank is
A = 100x (1 + 0.1/2)^4 = 121.55
B = 100 x (1 + 0.1)^2 = 121
The interest in bank a is 0.55 higher than that in bank B
Answer:
Step-by-step explanation:
Previous balance = $410.22
Payments/credits = $160.00
unpaid balance : $410.22-$160.00=$250.22
Monthly rate = 1.25%
Finance charge : 1.25 % of $250.22=$3.7533
Total balance to be paid when Finance charge is included : $250.22+$3.7533=$253.9733
New balance :
$253.9733+$95.25=349.2233
Answer:
x=6
Step-by-step explanation:
5x+4+8x-3=79
=>13x=79-4+3
=>13x=78
=>x=78/13
=>x=6
First, multiply each side by 5
6(x+1) = 25x-15
distribute the 6
6x+6=25x-15
put the x's on the same side and the other numbers on the opposite side
21=19x
Divide by 19 to isolate the x
21/19=x
Answer:
-3 and 6
Step-by-step explanation:
-3 + 6 = 3
-3 * 6 = -18