Answer:
monthly pay= 64000/12
paid twice a month.
so, gross pay per paycheck= (monthly pay)/2=64000/12*2=64000/24= C.2666.67
Step-by-step explanation:
Answer:
the value of a would be one, i think
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
17.99mm and ).705 in
Step-by-step explanation:
