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Sauron [17]
3 years ago
6

Compare investing $1500 at 9% compounded monthly for 11 years with investing $1500 at 14% compounded monthly for 11 years.

Mathematics
1 answer:
kogti [31]3 years ago
4 0

Answer:

Final amount after 11 years = $4021.97

Step-by-step explanation:

We will use the formula to get the final amount after t years,

Final amount = a(1+\frac{r}{n})^{nt}

here a = Initial amount

r = Rate of interest

n = Number of compounding in a year

For Initial amount 'a' = $1500

r = 9%

t = 11 years

n = 12 [Compounded monthly]

F = 1500(1+\frac{9}{12})^{12\times 11}

  = $4021.97

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natulia [17]

<u>Answer:</u>  

Broker1 with $66.

Broker2 with $54.25

Broker4 with $50

Broker3 with $47.5

Broker5 with $33.5

<u>Explanation : </u>

Total number of shares Cindy have : 300

Market Price per share : $25  

Total price for the shares : 300 \times$25

                                        = $7500

Now ,

<u>Case 1: </u>

Commission provided by broker1 = 0.75%

Online fees provided by broker1 = $ 10

Total price provided by broker1= \frac{75}{10000}\times7500 +$10

                                                =$66.25

<u>Case 2:  </u>

Commission provided by broker2= 0.5%

Online fees provided by broker2=$17

Total price provided by broker2= \frac{5}{1000}\times 7500 + $17

                                                =$54.5

<u>Case 3: </u>

Commission provided by broker 3= 0.6% for 100 0r few  

Not applicable because  the total shares are 300

For over 100 shares

Commission provided= 0.5%

Online fees = $10

Total price =  \frac{5}{1000}\times 7500 + $10

                =$47.5

<u>Case 4: </u>

For more than 100 shares

Online fees for buying and sharing= $50

Total price = $50

<u>Case5 : </u>

Commision for a share bought or sold = 0.05%

Online fees =$30

Total Price= \frac{5}{10000}\times 7500 + $30

                 =$33.75

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