Who can help answer some of these?
1 answer:
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Answer:
Option A earns higher interest($84115.58)
the difference in interest between the two option is $197.9
Step-by-step explanation:
In the problem we are going to apply both the simple interest formula and compound interest formula and compare which has the best/higher returns
Given data
Principal P= $43,000
Rate r= 6%= 0.06
time t= 3years
n= 4 (applicable for compound interest compounded quarterly)
solving for option A gives her 6% compounded quarterly
the compound interest formula is
Interest is =$8411.58
solving for option B which gives her 6% simple interest annually
the simple interest formula is
Interest is= $8213.68
calculating the diference in interest between the two options we have
= $197.9
Option A earns higher interest
Answer:
The first three terms of the series are 8, 10 and 12. The number of terms is 12 to make the sum 228.
Step-by-step explanation:
The series is defined as
Put n=1.
Put n=2.
Put n=3.
The first three terms of the series are 8, 10 and 12.
It is an arithmetic series. The first terms is 8 and the common difference is
The sum of n terms of an arithmetic series is
Equate each factor equal to zero.
The number of terms can not be negative, therefore the value of n must be 12.