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Nikitich [7]
2 years ago
8

You have decided both to open a savings account and to purchase a vehicle. You would like a savings account with the highest int

erest rate and a vehicle loan with a low interest rate. You currently have a checking account at Bank A. From the banks listed below, determine with which bank you should open a savings account and at which bank should you apply for your vehicle loan. 2 tables. A 2-column table with 3 rows titled Loan Rates. Column 1 has entries Bank A, Bank B, Bank C. Column 2 has entries 5 percent, 4.6 percent, 5.1 percent. A 2-column table with 3 rows titled Savings Rates. Column 1 has entries Bank A, Bank B, Bank C. Column 2 has entries 0.13 percent, 0.1 percent, 0.11 percent. a. Bank A for the car loan and Bank B for the savings account b. Bank C for the car loan and Bank C for the savings account c. Bank B for the car loan and Bank A for the savings account d. Bank B for the car loan and Bank B for the savings account
Mathematics
1 answer:
jeka942 years ago
6 0

Answer:

Step-by-step explanaton:

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Answer: The amount is $14794.39 and the interest is $9794.39

Step-by-step explanation: If you deposit <em><u>$5000</u></em><u> </u>into an account paying <em><u>7.5%</u></em> annual interest compounded yearly , how much money will be in the account after <em><u>15 years</u></em>?

To find amount we use formula:

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After plugging the given information we have

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A= 5000 *1.075^15

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To find interest we use formula  A=P+I'

since A= 14794.39  and P=5000

we have: A=P+I 14794.39=5000+I

I= 14794.39 -5000

I=9794.39

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