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Pani-rosa [81]
3 years ago
5

Denise needs to decide which bank is giving her the best deal. She has $37752 and plans to leave the money for 3 years. Bank #1

can give her 2.1% interest compounded monthly Bank #2 can give her 5.4% interest, compounded semi- annually. Which bank should she choose?
Mathematics
1 answer:
ololo11 [35]3 years ago
5 0

Answer:

bank 2 is best choice

bank one in 3 years at 2.1 monthly you would have 40,325.26 in the bank

bank 2 in 3 years at 5.4 semiannual you would have 44,295.81

interest calculator

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shusha [124]

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Hello!

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Step-by-step explanation:

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<span>If two variables are in inverse proportion, then as one increases, the other decreases, and vice versa. For example: if you take unpaid vacation from work, the number of days taken off (variable x) is in inverse proportion to the amount of money you make (variable y). The more vacation you take, the less money you'll make, and vice versa. You can put these into the equation y = k/x, where k is a constant rate at which x and y are inversely proportional.</span>
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