You have to choose
members from the group of
people. So there are
ways to do it.
Answer:
Sherry's Method of depositing $200 as a principal now with an interest at 4% compound at monthly will result in more money after two years.
Step-by-step explanation:
We use the Total Amount generated using compound interest formula to solve this question
Formula =
Total Amount(A) = P(1 + r/n)^nt
a) For Harrison
Principal = $200
Interest rate = 2% = 0.02
Time = 2 years
n = compounding quarterly = 4
A = P(1 + r/n)^nt
A = $2,000(1 + 0.02/4)^2×4
A = $2,000(0.005)^8
A = $ 2081.4140878
A = $ 2,081.41
b) For Sherry
Principal = $200
Interest rate = 4% = 0.04
Time = 2 years
n = compounding monthly = 4
A = P(1 + r/n)^nt
A = $2,000(1 + 0.04/12)^2×12
A = $2166.2859184
A = $ 2,166.29
The Total Amount for
Harrison = $ 2,081.41
Sherry = $ 2,166.29
Hence, from the above calculation, Sherry's Method of depositing $200 as a principal now with an interest at 4% compound at monthly will result in more money after two years.
The initial amount is 4800 and 300 is taken out each month..u will first start by saying how many months are they in a year,12 months...
u will take 12 multiplied by 300 in which u will obtain,3600 and the remaining balance will be 4800 -3600=1200.
u will later on say in 12 months his remaining balance will be 1200,and how many months will be there if his balance will be 1500.
12 months =1200
what about 1500 =15months
(6f-5+3g)-(-6g+3) = <span>6f-5+3g-(-6g)-3) = 6f-8+3g+6g = 6f+9g-8.</span>
