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
notka56 [123]
2 years ago
14

Bank A is lending money at 6.4% interest compounded annually. The rate at Bank B is 6.3% compounded monthly, and the rate at Ban

k C is 6.35% compounded daily. Determine the amount of interest you would earn at each bank if you invest $1500 for 12 months.Which bank will you pay the least amount?
Mathematics
1 answer:
Ad libitum [116K]2 years ago
8 0

Answer:

$1596

$1597.28

$1598.33

bank A

Step-by-step explanation:

The formula for calculating compound interest:

FV = P (1 + r/m)^mn

FV = Future value  

P = Present value  

R = interest rate  

N = number of years

m = number of compounding

Bank A = $1500(1.064) = $1596

Bank B = $1500( 1 + 0.063/12)^12 = 1597.28

Bank C = $1500( 1 + 0.0635/365)^365 = $1598.33

Bank A pays the least amount of interest

You might be interested in
What is the circumference of the circle? (use 3.14 for pi)
Deffense [45]
Your answer is 119.32 m
4 0
2 years ago
The 12 inch diameter pizza for $6.99 or the large 14-inch diameter pizza for $7.99​
Luden [163]

the 12 inch pizza is $1.72 per inch and the 14 inch pizza is $1.75 per inch. so the 14 inch pizza is the better choice.

8 0
3 years ago
Graph the set of points. which model is most appropriate for the set? (-6, -1)(-3, 2)(-1,4)(2,7)
lianna [129]
For this case, the first thing to do is to graph the following ordered pairs:
 (-6, -1)
 (-3, 2)
 (-1,4)
 (2,7)
 We observe that the graph is a linear function with the following equation:
 y = x + 5
 Note: see attached image.
 Answer:
 
The function that best represents the ordered pairs is:
 
y = x + 5

5 0
3 years ago
What is the greatest common factor of 65 and 91
Sedbober [7]
So,

First, we find the prime factored form (P.F.F.) of 65 and 91.

P.F.F. of 65: 5 * 13

P.F.F. of 91: 7 * 13

Find the common numbers
13

13 = G.C.F.

Note: This method works for finding any G.C.F. (find common primes)
4 0
3 years ago
Read 2 more answers
Can I Get Help On This Question?
Gnoma [55]

I believe it would just be -1

3 0
3 years ago
Other questions:
  • Need help on this problem
    11·1 answer
  • Tom has 2700 cents from selling lemonade how many dollars does tom have
    6·2 answers
  • Kite DCFE is inscribed in circle A shown below.
    5·2 answers
  • Plz help me with my math
    15·2 answers
  • Find the sum : 1/2( x+7) = 32
    9·2 answers
  • What is the value of x knowing that the interior angle of this regular polygon is (-134x+516+2x)?
    14·1 answer
  • )) A line's slope is 6, and its y-intercept is 6. What is its equation in slope-intercept form?
    7·2 answers
  • Solve: Select the correct equation: Two candles are lit at 6 pm. The 12-in. candle burns 0.5 inches every hour. The 18 inch cand
    8·1 answer
  • What is the length of the hypotenuse of a 45°-45°-90° triangle<br> with leg length 5V3?
    9·1 answer
  • A high school is having a talent contest and will give different prizes for the best 5 acts in the show. First place wins the mo
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!