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
tekilochka [14]
3 years ago
6

You are given a choice of taking the simple interest on $100,000 invested for 2 years at a rate of 3% or the interest on $100,00

0 invested for 2 years at an interest rate of 3% compounded quarterly
Which investment as the greater amount of interest? Give the difference between the amounts of interest earned by the two investments

the investment with simple? or compound?
interest earns $___ more in interest.

(Round to the nearest cant as needed.)
Mathematics
1 answer:
valentinak56 [21]3 years ago
5 0

Answer:

Step-by-step explanation:

the simple interest formula= principal* interest rate*time

simple interest : 100000*%2*2 years

simple interest= 4000 dollars

compound quarterly : A=principal(1+r/4)^t

since it is quarterly and have 4 quarters in a year, and 8 in two years.

compound quarterly: 100000(1+0.03/4)^8=106159.88

it is better to invest with compound interest because it add 6159 dollars in two years to the investment of 100000 dollars.

the difference between the interest: 6159.88-4000=2159.88

You might be interested in
Write a function rule that represents the sentence.<br> y is 4 less than the product of 7 and x.
goldenfox [79]
Answer:

y = 7x - 4

just as it says in words
3 0
3 years ago
Convert the improper fraction to a mixed number​
alex41 [277]
1) 10 3/10
3) 2 1/2
4) 10 2/3
6) 6 1/2
7) 4 3/4
9) 1 8/9
10) 1 5/6
4 0
3 years ago
Read 2 more answers
How much will a person pay for 11.6 pounds of bananas at a price of 1.51 per pound?
xz_007 [3.2K]

Answer:

17.52

Step-by-step explanation:

literally 11.6 x 1.51 and then round to hundredth place

3 0
3 years ago
On a coordinate plane, a line with positive slope goes through points (negative 6, negative 4) and (0, 6). A point is at (4, neg
Brums [2.3K]

Answer:

c

Step-by-step explanation:

5 0
3 years ago
Read 2 more answers
What is the answer?!
Brut [27]
The answer is 445363.571429!
3 0
3 years ago
Other questions:
  • Ruby red paint costs $0.50 per square inch. A ball is painted ruby red and costs $100.00 to paint. What is the diameter of the b
    8·2 answers
  • Y1=9(4x-1), y2=4x+1, and y1 is 393 more than 6 times y2
    7·1 answer
  • Sam receives a weekly paycheck. Here’s a copy of one of his pay statements. If there are 4 paydays per month, what is Sam’s mont
    6·1 answer
  • 15 + 4x = 12 + x nm jjk kj k j jk kj k kj kjkj
    13·2 answers
  • Can some one please help me
    15·1 answer
  • Measure Of Angle T. WILL GIVE BRAINLIEST
    10·1 answer
  • An avid collector wants to purchase a signed basketball from a particular playoff game. He plans to put
    8·1 answer
  • Which function has an inverse that is also a function?
    14·1 answer
  • I’m gonna be asking a lot of these so if your good at these then watch out for more! :)
    10·2 answers
  • What fraction of one day is 36 mins​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!