Answer:
Option 4.7% = 3,500 x 4.7% =$164.50 simple annual interest.
82.25 this is what Scott will pay in 6 months at simple interest.
Option 4.2% =3,500 x (1 +0.042/12)^6 =3,500 x 1.0035^6=$3,574.15.
3,500 =$74.15 this is what Scott will pay in 6 months at compounded interest.
The compound option is cheaper by: 74.15 =$8.10.
Answer:
11/12
Step-by-step explanation:
Fraction of smoothie that is Banana = 1/4
Fraction of smoothie that is strawberry = 2/3
The fraction of smoothies that were either banana or strawberry
= 1/4 + 2/3
Least Common Denominator= 12
= (3 × 1 + 2 × 4)/12
= 3 + 8/12
= 11/12
The fraction of smoothies were either banana or strawberry is 11/12
Answer:
8%
Step-by-step explanation:
APR means annual percentage rate.
To convert the daily rate to an APR, multiply the daily rate by the number of days in a year
365 days = 1 year
0.02192% x 365 = 8.0008%
To round off to the nearest percent, look at the first number after the decimal, if it is less than 5, add zero to the units term, If it is equal or greater than 5, add 1 to the units term.
The tenth digit is 0, so the number would be rounded off to 8%
