The figure shows a parallelogram inside a rectangle outline:
1 answer:
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Answer:
x = 1.24
Step-by-step explanation:
In order to get that x down from its current position of exponential, you need to take either the log or the natural log of both sides. The power rule tells us that we can then pull the exponent down in front. So let's take the natural log of both sides:
We can bring the x down in front to give us:
ln(83) = x ln(35)
The right side of this is "stuck" together by multiplication, so we can undo that multilication by division of the ln(35). That leaves us with just x on the right:
Do this on your calculator and find that x = 1.24
Answer:
Option D
Step-by-step explanation:
To calculate compound interest we will use the formula :
Where,
A = Amount on maturity
P = Principal amount = $3000
r = rate of interest = 8.4% = 0.084
n = number of compounding period = Monthly = 12
t = time = 1 year
Now put the values in the formula.
=
= 3000(1.007)¹²
= 3000 × 1.08731066
= 3261.93198 ≈ $3261.93
While the other bank compounds interest daily.
Therefore, n = 365
Now put the values in the formula with n = 365
= 3000 × 1.08761958
= 3262.85874 ≈ $3262.86
Difference in the ending balance = 3262.86 - 3261.93
= $0.93
The difference in the ending balances of both CDs after one year would be $0.93.