1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mihalych1998 [28]
2 years ago
8

Who will have the most money to spend on a new boat at the end of the five years? Use the formula I = P r t for simple interest

and A = P (1 + r) Superscript t for compound interest. Round to the nearest dollar.
Social Studies
1 answer:
Butoxors [25]2 years ago
4 0

Answer:

Keir will have the most money to spend on a new boat at the end of the five years; $1,440

Explanation:

Three friends decide that they each want to be able to buy a new boat in five years. Vanore puts $1,000 in a savings account with a simple interest rate of 4.5%. Keir invests $1,200 in a standard savers account with a simple interest rate of 4%. Omar invests $950 in a junior achievers account with a 6% annual compound interest rate. Who will have the most money to spend on a new boat at the end of the five years?

Vanore puts $1,000 in a savings account with a simple interest rate of 4.5%.

Vanore:

I = p * r * t

= 1000 * 0.045 * 5

= $225

I = $225

After 5 years, Vanore will have $1000 + $225

= $1225

Keir invests $1,200 in a standard savers account with a simple interest rate of 4%

Keir:

I = p * r * t

= 1200 * 0.04 * 5

= 240

I = $240

After 5 years, Keir will have $1200 + $240

= $1,440

Omar invests $950 in a junior achievers account with a 6% annual compound interest rate.

Omar:

A = P (1 + r)^t

= 950(1 +0.06)^5

= 950(1.06)^5

= 950(1.3382)

= 1271.1

A = $1,271.1

After 5 years, Omar will have $1,271.1

Keir will have the most money to spend on a new boat at the end of the five years; $1,440

You might be interested in
Which goddess is worshipped on each day of navratri
Tcecarenko [31]

Goddess Durga

Explanation:

being invoked in them. Apart from worshiping Goddess Mahagauri, all other forms of Goddess Durga are adored on this special day

5 0
2 years ago
Which statement BEST describes Georgia’s relative location? A. Georgia is located in the southern hemisphere B. Georgia is locat
Fantom [35]

well, Georgia is located north of Florida, 42.3154° N, 43.3569° E

(hope that helped)

4 0
3 years ago
Which of the following refers to the process of gathering detailed information about jobs? Job design work study Job analysis Jo
Morgarella [4.7K]

Answer:

JOB ANALYSIS

Explanation:

Job analysis identify the attributes or job requirements needed to perform the job in an organisation or company.

Organisation use job analysis to provide information which help to determine candidate that are best fits for that specific job. Job analysis enable applicants or employees to know what important tasks of the job are, how they are been carried out and the qualities needed to perform the job successfully.

Job analysis help organisations to hire the best candidates. Job analysis plays an important role in recruitment and selection thereby increasing organisation productivity.

4 0
3 years ago
Bonnie is 35 years old, taking her speech class in order to finish her degree after raising her family. should she be overly con
Ostrovityanka [42]

No, she will not  be overly concerned about her age difference in relation to her classmates.

<h3>Age difference</h3>

Based on the given scenario she will not be overly concerned about her age difference in relation to her classmates.

The  reason why she might likely be concerned will be if  the topic is relevant to the age of the audience understanding as well as their needs.

Therefore  she will not be overly concerned.

Learn more about age difference here:brainly.com/question/24528394

#SPJ1

6 0
2 years ago
Who was the last of the good Emperors in ancient Rome?
LiRa [457]

Answer:

all of them are correct

5 0
3 years ago
Read 2 more answers
Other questions:
  • Lakeisha is in the final stage of the interview process. She has researched what others in the industry make for a similar job a
    15·1 answer
  • Christianity is a belief system that began in the middle east. it eventually spread and took its strongest hold in
    13·1 answer
  • Help I have to calculate the deadweight loss
    10·1 answer
  • Read the quote.
    7·2 answers
  • Which of the following would the Puritan settlers of New England probably say was most important to them? Money Land Religion Re
    15·1 answer
  • What did the Patriots use to win the undecideds to their cause
    7·1 answer
  • What are changes in America that you have heard about or read about after the events of<br> 9/11?
    6·1 answer
  • Bro someone help ME PLEASE!!!!! ILL LOVE YOY FOREVER PLSS
    12·1 answer
  • 2. Which of the following is the best explanation of how war can spread culture traits?​
    13·1 answer
  • How can you minimize conflict in your society?<br><br><br>​
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!