Answer:
Option D
Step-by-step explanation:
To calculate compound interest we will use the formula :
Where,
A = Amount on maturity
P = Principal amount = $3000
r = rate of interest = 8.4% = 0.084
n = number of compounding period = Monthly = 12
t = time = 1 year
Now put the values in the formula.
= 
= 3000(1.007)¹²
= 3000 × 1.08731066
= 3261.93198 ≈ $3261.93
While the other bank compounds interest daily.
Therefore, n = 365
Now put the values in the formula with n = 365
= 3000 × 1.08761958
= 3262.85874 ≈ $3262.86
Difference in the ending balance = 3262.86 - 3261.93
= $0.93
The difference in the ending balances of both CDs after one year would be $0.93.
Answer:
56
Step-by-step explanation:
It should be 19 because originally, it would be 910, but then add 16 more 0's, and 16 + 3 = 19 (and the three is from here -------^)!
Check this out ->:https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=91*10%5E17
and https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#safe=strict&q=91000000000...
They equal.
Answer:
5 hours
Step-by-step explanation:
given :
Distance between the cities = 540 miles
Speed of motorcycle =48 mph
TO CALCULATE THE TIME TAKEN BY MOTORCYCLE TO COVER THE TOTAL DISTANCE WE USE THE FORMULA :
By putting given values in the formula we get :
= 11.25 hours
Now, We are given that for a car to cover the same distance it takes 2.25 hours less than the time taken by motorcycle
⇒ 11.25 hours - 2.25 hours
⇒ 9 hours
Thus , Time taken by car to cover the same distance is 9 hours .
Now to calculate speed of car by using formula:
= 60 mph
Let t be the time taken to meet if they start moving towards each other.
So distance covered by motorcycle in t hours is
speed\times time
= 48t miles
Distance covered by car in t hours is
speed\times time
= 60t miles
⇒ 60t + 48t =540
⇒ 108t = 540
⇒ t= 5 hours
Therefore, time taken to meet if they start moving towards each other is 5 hours.
