Mode 17,
Mean is 19.3
Median 18.
Answer:
J Compound interest; $298.65
Step-by-step explanation:
Interest compounding pays interest on the interest. For the same annual rate, any amount of compounding will earn more interest.
For short time periods, the effect of compounding is not great. In general, it will be a fraction of the equivalent simple interest rate. Here, the effective multiplier for annual compounding is ...
1.051^4 = 1.22024337
and the effective multiplier for simple interest is ...
1 +0.051·4 = 1.204
Then the difference in interest rate multiplier for the 4-year period is ...
1.22024337 -1.204 = 0.01614337
That fraction of the $18500 principal is $298.65.
Compound interest earns $298.65 more than simple interest in this scenario.
Hope this helps, have an amazing day!
That is the lowest unlest you want it in decimal form -0.390805
Answer: 199,990
Step-by-step explanation:
You can't round to the nearest tenth because you don't have a decimal added to the number.
I rounded to the nearest tens and got 199,990
