Using compound interest, the better investment is of 8.3% compounded annually.
What is compound interest?The amount of money earned, in compound interest, after t years of the investment, is given by the following formula:
[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]
In which the parameters are given as follows:
P is the principal, which is the value of deposit/loan/....r is the interest rate, as a decimal value.n is the number of times that interest is compounded per year, annually n = 1, semi-annually n = 2, quarterly n = 4, monthly n = 12.For the first option, of 8.3% compounded annually, the multiplier after each year is given as follows:
[tex](1 + \frac{0.083}{1}\right)^{1} = 1.083[/tex]
As the parameters are r = 0.083, n = 1.
For the second option, the parameters are given as follows:
r = 0.08, n = 4.
Hence the multiplier after each year of the investment is given by:
[tex](1 + \frac{0.08}{12}\right)^{12} = 1.0829[/tex]
Due to the higher multiplier, the first option is better, that is, 8.3% compounded annually.
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The 8% compounded quarterly has a higher effective annual rate than 8.3% compounded annually, thereby making it the better investment choice.
To determine which investment is better, we need to compare the effective annual rates (EAR) of the two options: 8.3% compounded annually vs. 8% compounded quarterly. The formula for EAR is (1 + i/n)n - 1, where i represents the interest rate and n is the number of compounding periods per year.
For the 8.3% compounded annually, the EAR is straightforward: (1 + 0.083/1)1 - 1 = 0.083 or 8.3%.
For the 8% compounded quarterly, we calculate the EAR as follows: (1 + 0.08/4)4 - 1 = (1 + 0.02)4 - 1 = (1.02)4 - 1 = 1.082432 - 1 = 0.082432 or 8.2432%.
Comparing the two EARs, the 8% compounded quarterly has a higher effective annual rate than the 8.3% compounded annually, making it the better investment.
20 points! Suppose you find six articles related to the topic of your research paper. In how many ways can you choose four articles to read
a.720
b.30
c.360
d.15
Karl rides his bicycle 120 feet in 10 seconds. How many feet does he ride in 1 minute
A minute is 6 times as long as 10 seconds, so we expect Karl will ride 6 times as far.
[tex]\dfrac{120\,ft}{10\,s}=\dfrac{120\,ft}{10\,s}\cdot\dfrac{60\,s}{1\,min}=\dfrac{720\,ft}{1\,min}[/tex]
Karl rides 720 ft in 1 minute.
Answer:
720
Step-by-step explanation:
120/10 to find his feet per second which is 12 feet per second
12*60
since there are 60 seconds in a minute
= 720
Bank of america customers select their own three-digit personal identification number (pin) for use at atms.(b) if zero can be the first digit and the numbers can be repeated, what is the probability mr. jones and mrs. smith select the same pin?
Fraction 4 over 5n = Fraction 2 over 3. n = ___? Fraction 2 over 15 Fraction 5 over 6 1Fraction 1 over 5 1Fraction 7 over 15
Answer:
what?
Step-by-step explanation:
I need the answer please
Jeremy is shopping online for skating equipment. He buys a longboard complete with trucks and wheels for $146.25. At checkout, Jeremy gets a discount of $21 on his purchase. The final amount that Jeremy will be billed is $ 42.00 104.25 125.25 167.25
Answer:
Option C. $125.25
Step-by-step explanation:
Jeremy is shopping online for skating equipment.
The price of long board with trucks and wheels = $146.25
Jeremy gets a discount on his purchase = $21.00
the final amount that Jeremy would be billed.
We subtract the discount from the price of item.
= $146.25 - $21.00 = $125.25
The final amount that Jeremy would be billed is $125.25.
the figure below will be translated 4 units up and 3 units to the right. Which of the following represents the coordinates of the transformed figure?
A. A'(6, 9), B'(9, 14), C'(12, 11)
B. A'(8, 10), B'(11, 15), C'(15, 12)
C. A'(9, 9), B'(12, 14), C'(16, 11)
D. A'(9, 10), B'(12, 15), C'(16, 12)
The formula for glue says to add 50ml of hardener to each container of resin. How much hardener should be added to 15 containers of resin?
Answer:
0.75
Step-by-step explanation:
Which fraction shows 2.8 as the quotient of two integers?
14/5
12/5
9/4
9/2
Answer:14/5 is the correct answer, just took test
Step-by-step explanation:
In Zoe's class, 4 /5 of the students have pets. Of the students who have pets, 1/8 have rodents. What fraction of the students in Zoe's class have rodents? Enter the answer in simplest form. The fraction of students in Zoe's class who have rodents is
Answer:
The fraction of students in Zoe's class who have rodents is [tex]\frac{1}{10}[/tex].
Step-by-step explanation:
In Zoe's class, 4 /5 of the students have pets.
Of the students who have pets, 1/8 have rodents.
This means [tex]\frac{1}{8} of \frac{4}{5}[/tex] have rodents.
So,fraction of students who have rodents = [tex]\frac{1}{8}\times\frac{4}{5}[/tex]
= [tex]\frac{1}{10}[/tex]
The fraction of students in Zoe's class who have rodents is [tex]\frac{1}{10}[/tex].
A superhero recently asked his nemesis how many cats she has. She answered with a riddle:two-thirds of my cats plus two
how many cats does she have
logan made a treasure hunt map.the treasure is 25cm away from his location.if each 1cm on the scale drawing equals 5 meters, then how far he is from treasure?
Logan's treasure is represented as 25 cm away on his map; using the scale of 1 cm to 5 meters, it can be calculated that he is 125 meters away from the treasure by multiplying the map distance by the scale factor.
Logan has created a treasure hunt map where the scale indicates that 1 cm on the map corresponds to an actual distance of 5 meters. To determine the actual distance Logan is from the treasure, we first note that the treasure is shown as 25 cm away from his location on the map. Since the scale factor is 1 cm to 5 meters, we can set up a simple multiplication to find the actual distance.
The calculation would be as follows:
Scale factor: 1 cm = 5 meters
Map distance: 25 cm
Actual distance: 25 cm x 5 meters/cm
By multiplying the map distance by the scale factor, we get:
Actual distance = 25 x 5 = 125 meters
Therefore, Logan is 125 meters away from the treasure.
write 3.25 x 10^4 as an ordinary number
could you please show your working out it would be helpful
Numbers that are used to represent the rank or position of an object or a person are known as ordinal numbers.
The ordinary number for 3.25 x [tex]10^{4}[/tex] is 32500.
What is an ordinary number?Numbers that are used to represent the rank or position of an object or a person are known as ordinal numbers.
We have,
3.25 x [tex]10^{4}[/tex]
We need to remove the decimal point and the exponents 4.
Let us find in two parts:
3.25 can be written as 325/100 ______(1)
[tex]10^{4}[/tex] can be written as 10 x 10 x 10 x 10 = 10000 ______(2)
Now,
From (1) and (2)
= 3.25 x [tex]10^{4}[/tex]
= (325 / 100) x 10000
= (325/100) x 100 x 100
100 can be canceled.
= 325 x 100
= 32500
Thus the ordinary number for 3.25 x [tex]10^{4}[/tex] is 32500.
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Solve for 10 - 6x - 9x^2 = -9x10−6x−9x 2 =−9x
x = (1 ±√41)/6 is the correct answer.
To solve the equation 10 - 6x - 9x^2 = -9x, we'll use the quadratic formula. The solutions for x are (3 + √369)/18 and (3 - √369)/18.
Explanation:To solve the equation 10 - 6x - 9x2 = -9x, we'll start by bringing all the terms to one side of the equation to set it equal to zero. Rearranging the equation, we get 9x2 - 3x - 10 = 0. We can then use factoring, the quadratic formula, or completing the square to solve for x. In this case, let's use the quadratic formula.
The quadratic formula states:
x = (-b ± √(b2 - 4ac))/(2a)
Using the values from our equation, we have:
x = (-(-3) ± √((-3)2 - 4(9)(-10)))/(2(9))
Simplifying further, we have:
x = (3 ± √(9 + 360))/18
x = (3 ± √369)/18
Therefore, the solutions for x are:
x = (3 + √369)/18
x = (3 - √369)/18
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Fred wants to find 48+34 using compensation.He says you can take 2 from 34 and give it to 48 to make 50.What is the sum?Explain why compensation can work to find the sum.
kelly puts $350 in a savings account. The savings account accrues interest at a flat rate of 1.05% a month. How much will it count be worth in 7 months?
What is the third term of the sequence defined by the recursive rule f(1)=2, f(n)=2f(n-1) +1
A laptop computer is purchased for $1300. After each year, the resale value decreases by 35%. What will the resale value be after 3 years?
According to the Journal of the American Medical Association (JAMA), hospitals that routinely staff with 1:8 nurse-to-patient ratios experience five additional deaths per 1,000 patients than those staffing with 1:4 ratios (2002). If the local hospital has decided to follow the 1:4 nurse-to-patient ratio, how many patients can they treat if they have 120 nurses?
Final answer:
The local hospital can treat a maximum of 480 patients if they follow the 1:4 nurse-to-patient ratio and have 120 nurses.
Explanation:
The local hospital can treat a maximum of 480 patients if they follow the 1:4 nurse-to-patient ratio and have 120 nurses.
To calculate the maximum number of patients the hospital can treat, we divide the number of nurses by the nurse-to-patient ratio. In this case, the ratio is 1:4, so for every 1 nurse, there are 4 patients. Therefore, each nurse can handle 4 patients.
To find the maximum number of patients, we multiply the number of nurses by the number of patients each nurse can handle. In this case, 120 nurses multiplied by 4 patients per nurse equals 480 patients.
"assume that josh throws the discus 36 times. let y denote the sum of the lengths of the 36 throws.
a. what is the expected value of y
Name the triangle with the following characteristics. Sides: 5 cm, 5 cm, 7 cm.
Answer:
Isosceles triangle.
Step-by-step explanation:
A triangle has been given in this question with the sides 5 cm, 5 cm, 7 cm.
As per definition of the triangle if two sides are equal then opposite angles of these corresponding sides will be equal.
More than this if two sides of a triangle are equal then the triangle is called as isosceles triangle.
Therefore the given triangle with the equal sides 5 cm, 5 cm will be the isosceles triangle.
A package of 10 cans of soup costs $14. An individual can costs $2. You need at least 25 cans. Find You decide to buy 3 packages of 10 cans. How much do you pay for each can?the price of each combination of items.You decide to buy 3 packages of 10 cans. How much do you pay for each can?
To find the cost per can when buying 3 packages of cans, multiply the cost of a single package by 3 to get the total cost, then divide the total cost by the total number of cans to find the cost per can.
To find the cost per can when buying 3 packages of 10 cans each:
Cost of 1 package with 10 cans = $14Cost of 3 packages = 3 x $14 = $42Number of cans = 3 packages x 10 cans per package = 30 cansCost per can = Total cost / Number of cans = $42 / 30 cans = $1.40 PLZ HURRY!!!
A line passes through the points (6,5) and (2,2) . Select all that describe this line.
1. y − 5 = 3/4 (x − 6)
2. y − 5 = −4/3 (x − 2)
3. y − 2 = −3/4 (x − 6)
4. y − 2 = 3/4 (x − 2)
A) what value represents the 40th percentile of these returns?
Jean-Marc used a scale factor of 5 to make this scale drawing of a moth.
In the drawing, the wingspan of the moth measures 3 centimeters. What was the actual wingspan, in millimeters, of the moth Jean-Marc observed?
How to factorise and appear a commun facteur
You are planning to buy one of two brands of sofas, which you hope to use over the next twenty years. Brand J costs $975 and lasts for about twenty years. Brand K costs $265 and lasts for about five years, so you will need to buy four Brand K sofas to equal one Brand J sofa. In either case, you plan to pay for your sofa using your credit card, which has an interest rate of 14.55%, compounded monthly. You can pay off a Brand J sofa with eight years of monthly payments, and you can pay off a Brand K sofa with three years of monthly payments. Assuming that you make no other purchases on your credit card, over twenty years, which brand will be cheaper, and how much cheaper will it be? (Round all dollar values to the nearest cent.) a. Brand J will be $591.36 cheaper than Brand K. b. Brand J will be $85.00 cheaper than Brand K. c. Brand K will be $1,132.23 cheaper than Brand J. d. Brand K will be $340.32 cheaper than Brand J.
The loan amount is calculated by amortization and Brand K will be $340.32 cheaper than Brand J
What is Amortization?Loan amortisation is the practise of making recurrent payments over time to completely pay off the principal and interest on a loan.
Mortgage amortisation is a word used in finance to describe the process of paying down your mortgage. The mortgage lender establishes a payment plan for you when you take out a mortgage. This uncomplicated plan, which includes equal payments over the course of your loan if you have a fixed-rate mortgage, is easy to understand.
The amount is calculated using the amortization formula:
P = a ÷ {{[(1 + r/n)^nt] - 1} ÷ [r/n(1 + r/n)^nt]}
where:
P is monthly payment
a is credit amount
r is the interest rate
t is the time in years
n is number of times the interest is compounded
Given data ,
Let the total loan amount for the brand J be represented as J
a = $975
r = 14.55% = 0.1455
t = 8 years
n = 12
Now , the amortization formula is
P = a ÷ {{[(1 + r/n)^nt] - 1} ÷ [r/n(1 + r/n)^nt]}
P = 975 ÷ {{[(1 + 0.1455/12)^12×8] - 1} ÷ [0.1455/12(1 + 0.1455/12)^12×8]}
P = $17.24
Total amount paid J = $17.24 × 96 = $1655.04
Let the total loan amount for the brand K be represented as K
a = $265
r = 14.55% = 0.1455
t = 3 years
n = 12
Now , the amortization formula is
P = a ÷ {{[(1 + r/n)^nt] - 1} ÷ [r/n(1 + r/n)^nt]}
P = 265 ÷ {{[(1 + 0.1455/12)^12×3] - 1} ÷ [0.1455/12(1 + 0.1455/12)^12×3]}
P = $9.13
Total amount paid K = $9.13 × 12 × 3 × 4 = $1314.72
The difference of amount of sofa j and sofa k = D
D = J - K
D = $1 655.04 - $ 1314.72 = $ 340.32
Hence , Brand K will be cheaper than Brand J by $340.32
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If 300 cm2 of material is available to make a box with a square base and an open top, find the maximum volume of the box in cubic centimeters
TIMMY and JEROD are eating cupcakes if they each can eat 2 cupcakes in 3 minutes how long will it take them to eat 18 cupcakes?
Find the distance the point p(0,0,−4)p(0,0,−4) is to the line through the two points q(−4,1,−2q(−4,1,−2 ), and r(−2,0,−5r(−2,0,−5 ).