Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.
Step-by-step explanation:
Giving the following information:
Joshua:
Initial investment (PV)= $750
Interest rate (i)= 0.0341/4= 0.008525
Number of periods (n)= 18*4= 72 quarters
Josiah:
Initial investment (PV)= $750
Interest rate (i)= 0.0285
Number of periods (n)= 18 years
To calculate the future value of each one, we need to use the following formula:
FV= PV*(1 + i)^n
Joshua:
FV= 750*(1.008525^72)
FV= $1,381.98
Josiah:
FV= 750*(1.0285^18)
FV= $1,169.74
Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.
<em>Hope</em><em> </em><em>this</em><em> </em><em>will</em><em> </em><em>help</em><em> </em><em> </em><em>u</em><em>.</em><em>.</em><em>.</em>
Answer: sum=1 subtrahend=2
Step-by-step explanation:
Answer:
14.5 × 3.18 - 14.5 x 1.88
You paid $18.85 more in june than in February
Step-by-step explanation:
In order to find the answer to this question you will need to find how much you paid in June and how much you paid in February.
ex.14.5 x 3.18 - 14.5 x 1.88
To solve this you need to find the product of 14.5 x 3.18 and 14.5 x 1.88 and then subtract them from eachother.
ex.14.5 x 3.18 =46.11
14.5 x 1.88=27.26
46.11-27.26=18.85
