Expo Models Help me with this questions please

Mathematics

1 answer:

Aneli [31]2 years ago

6 0

This is the write answer to Exporiental decay

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Thepotemich [5.8K]

The correct answer are

Sue interest : 169.6061952

Bill interest: 189.9131472

B. Bill will get more interest then sue

Explain

Sue principal balance p= 2300

Interest for 3 years so t= 3

Interest is compounded yearly n= 1

R= 2.4%

A= 2300(1+2.4/100)^3 = 2300(1+0.024)^3 = 2300 x (1.024)^3 = 2469.6061952

Interest for 3 year is A-p= 2469.6061952 -2300

169.6061952

Bill principle p= 1800

Interest for 3 years t= 3

Interest compounded so n= 1

R= 3.4%

A= 1800(1+3.4/100)^3 = 1800 (1+0.034)^3 = 1800 (1.034)^3 = 1989.9131472

Interest in 3 yrs = 1989.9131472 - 1800 =

189.9131472

For B is below

Hopefully this help you :D

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3 years ago