Answer:
Dharma and Jorge should purchase a group plan.
They could save $9.55
Step-by-step explanation:
A group plan will cost an average of $135.95 per month.
An individual plan will cost an average of $72.75 per month.
Two individual plans will cost an average of
per month.
Since $145.50 > $135.95, Dharma and Jorge should purchase a group plan.
They could save
Answer:
A ) The Amount which will be saved after five years is $ 5742.4
B ) The compound Interest is $ 1742.4
Step-by-step explanation:
The Principal deposited at the end of each year = $ 4000
The rate of interest = 7.5 % compounded annually
The time period = 5 years
From compounded method :
Amount = principal ×
or, Amount = $ 4000 ×
Or, Amount = $ 4000 ×
or, Amount = $ 4000 × 1.4356
∴ Amount = $ 5742.4
A ) The Amount which will be saved after five years is $ 5742.4
B ) The compound Interest = Amount - principal
Or, C I = $ 5742.4 - $ 4000 is $ 1742.4 Answer