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
Black_prince [1.1K]
3 years ago
13

Mia wants to borrow £6000 and repay it, with interest, after two years. she sees two offers for loans: offer 1 compound interest

3% per year offfer 2 compound interest first year 1% second year 3% mia says, iwill payback the same amount because the average of 1% and 5% is 3% is she correct?
Mathematics
1 answer:
AURORKA [14]3 years ago
4 0

Answer:

she is wrong, offer 2 results in lower interests

Step-by-step explanation:

total amount paid if offer 1 is accepted:

$6,000 x (1 + 3%)² = $6,000 x 1.0609 = $6,365.40

she will pay $365.40 in interests

total amount paid if offer 2 is accepted:

($6,000 x 1.01) x 1.05 = $6,060 x 1.05 = $6,363

she will pay $363 in interests

Compounding interest refers to interest that earns more interest itself, e.g. in the first offer, the $180 of interests charged for the first year will earn $5.40 in extra interests. While offer 2 only charges $60 in interests during the first year which will in turn earn $3 of interests. The difference between both offers is that interest charges in offer 1 earn more interests than the interest in offer 2 = $5.40 - $3 = $2.40

You might be interested in
The cost of providing water bottles at a high school football game is $35 for the rental of the coolers and $0.50 per bottle
zloy xaker [14]

The cost function is an illustration of a linear function

The equation of the cost function is C(x) = 35 + 0.5x

The given parameters are:

Rentals = 35 -- the cost of renting a cooler

Rate = 0.5 --- the rate per bottle

Assume the number of bottles in a cooler is x.

The cost function for the bottles in a cooler would be:

C(x) = Rentals + Rate \times x

So, we have:

C(x) = 35 + 0.5\times x

Evaluate the products

C(x) = 35 + 0.5x

Hence, the equation is C(x) = 35 + 0.5x

Read more about linear functions at:

brainly.com/question/15602982

7 0
2 years ago
Write a question about a situation that has 24-x for the answer
NARA [144]

Answer:

A bottle holds 24 ounces of water. It has x ounces of water in it.

What does 24 - x represent in this situation?

4 0
2 years ago
A rectangular auditorium seats 1564 people. the number of seats in each row exceeds the number of rows by 1212. find the number
yanalaym [24]
<span>We can safely assume that 1212 is a misprint and the number of seats in a row exceeds the number of rows by 12. Let r = # of rows and s = # of seats in a row. Then, the total # of seats is T = r x s = r x ( r + 12), since s is 12 more than the # of rows. Then r x (r + 12) = 1564 or r**2 + 12*r - 1564 = 0, which is a quadratic equation. The general solution of a quadratic equation is: x = (-b +or- square-root( b**2 - 4ac))/2a In our case, a = 1, b = +12 and c = -1564, so x = (-12 +or- square-root( 12*12 - 4*1*(-1564) ) ) / 2*1 = (-12 +or- square-root( 144 + 6256 ) ) / 2 = (-12 +or- square-root( 6400 ) ) / 2 = (-12 +or- 80) / 2 = 34 or - 46 We ignore -46 since negative rows are not possible, and have: rows = 34 and seats per row = 34 + 12 = 46 as a check 34 x 46 = 1564 = total seats</span>
4 0
3 years ago
If angles P and Q are supplementary angles, which of the following must always be true?
user100 [1]

Answer:

180

Step-by-step explanation:

for two angles to be supplementary, their sum must be equal to 180°

6 0
2 years ago
Read 2 more answers
If Ms. T sets a goal to walk at least 13,000 steps each day, what is the percent increase she will have to make in order to reac
Bond [772]

Answer:

0.185%

Step-by-step explanation:

ms.T goals = 13000 steps per day

<u>24</u><u>/</u><u>13000</u><u>×</u><u>100</u>

<u>2400</u>

<u>13000</u>

<u>=</u><u>24</u><u>/</u><u>130</u>

<u>=</u><u> </u><u>0.185</u><u>%</u>

8 0
3 years ago
Other questions:
  • Please help !!!!!!!!
    10·2 answers
  • Sara goes on a slingshot ride in an amusement park. She is strapped into a spherical ball that has a radius of 3·10^2 centimeter
    13·1 answer
  • 6) Match the sequence given to the correct formula. 4, 16,64, 256..."
    13·1 answer
  • What is the solution to the following system ?
    9·1 answer
  • Need Help with this question
    8·1 answer
  • The residuals for data set A and data set B were calculated and plotted on
    13·2 answers
  • A solid sphere is cut into 4 equal wedges the volume of each wedge is v=1/3r3 solve the volume for r
    8·1 answer
  • Which answer is it? :/
    6·1 answer
  • What is it asap please​
    12·1 answer
  • 18
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!