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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

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prisoha [69]

Answer:

Part A: x0.50 + 3 = 18.50

Part B: x0.75 + 3 - x0.10 = 21

Part C: The equations from Part A and Part B differ because of the cost of plastic cup.

Step-by-step explanation:

Let x represent the number of cup of lemonade sold. Therefore, we have:

Part A:

This situation can be represented by the following equation:

x0.50 + 3 = 18.50

Part B:

This situation can be represented by the following equation:

x0.75 + 3 - x0.10 = 21

Part C:

The equations from Part A and Part B differ because of the cost of plastic cup.

For equation from Part A, revenue is the same as profit as Sydney does incur any cost to buy plastic cup before selling her lemonade.

For equation from Part B, revenue is different from profit because Daria has to incur the cost of plastic cup which $0.10 per cup of lemonade before selling her lemonade.

8 0
3 years ago
Read 2 more answers
WILL GIVE BEST RESPONSE
tino4ka555 [31]
We will use demonstration of recurrences<span>1) for n=1, 10= 5*1(1+1)=5*2=10, it is just
2) assume that the equation </span>10 + 30 + 60 + ... + 10n = 5n(n + 1) is true, <span>for all positive integers n>=1
</span>3) let's show that the equation<span> is also true for n+1, n>=1
</span><span>10 + 30 + 60 + ... + 10(n+1) = 5(n+1)(n + 2)
</span>let be N=n+1, N is integer because of n+1, so we have
<span>10 + 30 + 60 + ... + 10N = 5N(N+1), it is true according 2)
</span>so the equation<span> is also true for n+1, 
</span>finally, 10 + 30 + 60 + ... + 10n = 5n(n + 1) is always true for all positive integers n.
<span>
</span>
4 0
3 years ago
3(4x-7)=27<br> What does x =?<br> Please help asap im timed!!!
Scilla [17]

Answer:

x = 4

Step-by-step explanation:

3 x ( 4x -7 ) = 27

3 x 4x = 12x

3 x -7 = -21

12x -21 = 27

12x -21 + 21 = 27 + 21

12x = 48

12x/12 = 48/12

x = 4

3 0
3 years ago
Can someone please help me with this?
Charra [1.4K]
Im pretty sure its 60
7 0
3 years ago
Megan purchased a new gadget for her technology hobby. She plans to sell it sometime in the future, however, its value depreciat
ElenaW [278]

Answer:

The second term defines the value that will be depreciated by the rate of 22 units for m months.

Step-by-step explanation:

Given is :

The value of the gadget after 'm' months = 2020 - 22m

This expression tells us that, each month Meghan's gadget's price falls by 22 units from the original value.

The original value of the gadget is 2020 units.

Therefore, the constant term (2020 )of the expression represents the original value of the gadget,

And the second term defines the value that will be depreciated by the rate of 22 units for m months. And m defines the number of months Meghan will keep the gadget.

5 0
3 years ago
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