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Cloud [144]
2 years ago
6

Michael is planning to invest his 2,000 into a bank account between investment A with 8% simple interest or investment B with 6%

compound interest. He also plans to invest his money for 12 years. Which investment should be choose to get the biggest return​
Mathematics
1 answer:
Angelina_Jolie [31]2 years ago
3 0

The investment with the bigger return is investment B.

<h3>What is simple interest and compound interest?</h3>

Simple interest rate is the interest that is paid only on the principal portion of a loan. This means that the debtor does not pays interest on the interest rate already accrued. This differs from compound interest where the debt holder pays interest on the principal and the interest rate already accrued

<h3>What is the compound interest?</h3>

The formula for calculating future value:

FV = P (1 + r)^n

  • FV = Future value
  • P = Present value
  • R = interest rate
  • N = number of years

2000 x (1.06)^12 = $4024.39

Compound interest =  $4024.39 - $2000 =  $2024.39

<h3>What is the simple interest? </h3>

Simple interest = principal x time x interest rate

2000 x 0.08 x 12 = $1920

To learn more about future value, please check: brainly.com/question/18760477

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If a 4 x 16 rectangle has the same area as a square, what is the length of a side of the square?
Licemer1 [7]

Answer:

Option D. 8 units

Step-by-step explanation:

step 1

Find the area of rectangle

The area of rectangle is

A=(4)(16)=64\ units^2

step 2

Find the length side of the square with the same area of rectangle

The area of a square is

A=b^2

where

b is the length side of the square

we have

A=64\ units^2

substitute

64=b^2

take the square root both sides

b=8\ units

therefore

The length side of the square is 8 units

7 0
3 years ago
Given: △ABC, AB=5√2 m∠A=45°, m∠C=30° Find: BC and AC
Naddik [55]

Answer:

BC = 10, AC= approximately 13.66 OR 5+5 √3

Step-by-step explanation:

Law of Sines

5 0
3 years ago
Paul lands a home mortgage of $58,200 at a
qwelly [4]

Answer:

$72,100

Step-by-step explanation:

To calculate the total principal+interest payment, you can use the formula to find the future value:

FV=PV(1+i)^n

FV= Future value

PV= Present value= $58,200

i= Interest rate= 7.40%

n= Number of periods of time= 3 years

Now, you can replace the values on the formula:

FV=58,200*(1+0.0740)^3

FV=58,200*(1.0740)^3

FV=72,100

According to this, the answer is that the  total principal + interest  payment will be $72,100.

8 0
2 years ago
The triangles below are similar. Which similarity statements describe the relationship between the two triangles? Check all that
Gekata [30.6K]

<u>Complete Question</u>

In triangle ABC: AC=10 , AB=5., Angle C = 30 degrees.  

In Triangle DEF: ED= 7.5 , DF=15, Angle F =30 degrees , Angle E = 90 degrees.  

Answer:

A, D and E

Step-by-step explanation:

The diagram is drawn and attached below.

  • Triangle ABC is similar to Triangle DEF. (Option E)

Writing it backwards:

  • Triangle CBA is similar to Triangle FED. (Option A)

Also,

  • Triangle BAC is similar to EDF. (Option D).

Therefore, A, D and E are the similarity statements that describe the relationship between the two triangles.

5 0
3 years ago
Which ratio is equivalent to 7:3?
aliina [53]

Answer:

The answer is B.

Step-by-step explanation:

7x4 is 28 which means you have to multiply 3x4. That gives you 12. 28:12 is the proper ratio. (Hope this helped!)

3 0
2 years ago
Read 2 more answers
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