Joseph is a friend of yours. He has plenty of money but little financial sense. He received a gift of $12,000 for his recent graduation and is looking for a bank in which to deposit the funds. Partners' Savings Bank offers an account with an annual interest rate of 3% compounded semiannually, while Selwyn's offers an account with a 2.75% annual interest rate compounded continuously. Calculate the value of the two accounts at the end of one year, and recommend to Joseph which account he should choose.

Answers

Answer 1

Answer:

The value for partners savings bank at the end of 1 year is $12,362.70. The value for Selwyn's at the end of 1 year is $12,334.58. The future value obtained by investing in Partners Saving Bank is more as compared to Selwyn’s Saving Bank. Hence Joseph is recommended to choose Partners Saving Bank.

Step-by-step explanation:

Answer 2

The value of the interest rate and the compounding applied, gives the

value in the account after one year.

The value of the account with Partner's Bank after one year is approximately $12,362.7, which is higher than the value in the Selwyn's account.The value in Selwyn's which after one year is $12,344.58.Joseph should choose the Partner's Bank account

Reasons:

The amount Joseph receives as gift, A₀ = $12,000

Amount interest from Partner's Savings Bank, r = 3% compounded semiannually

Interest rate offered by Selwyn's, r = 2.75% compounded continuously

Required:

The value of the two account at the end of one year.

Solution:

[tex]A_t = A_0 \cdot \left(1 + \dfrac{r}{2} \right)^{2 \times t}[/tex]

The amount at the end of one year (t = 1) in Partner's Savings Bank is therefore;

[tex]A_t = 12,000 \times \left(1 + \dfrac{0.03}{2} \right)^{2 \times 1} = 12,362.7[/tex]

The value in the Partner's Savings Bank after one year, A(t) ≈ $12,362.7

The value of an account at Selwyn's is therefore;

The interest rate compounded continuously is presented as follows;

[tex]A(t) = \mathbf{A_0 \cdot e^{r \cdot t}}[/tex]

A₀ = The original amount invested = $12,000

Which gives;

[tex]A(t) = 12,000 \times e^{0.0275 \times 1} \approx \mathbf{12,334.58}[/tex]

The value of the account at Selwyn's after one year, A(1) ≈ $12334.58

Therefore, the account Joseph should choose is the Partner's Savings Bank  that gives a higher value in the account after one year.

Learn more here:

https://brainly.com/question/21896604


Related Questions

Given an investment of $1,500: which investment would have a larger balance after 5 years? Option 1 - 4% compounded monthly option 2 - 3.9% compounded daily.

Answers

Answer:

It is option one

Step-by-step explanation:

I don’t know why but I’m doing a quizzizz with the same question and i picked option 2 but option one was the correct answer


Which quadrilateral's diagonals are congruent and perpendicular bisectors of each other?

Answers

Diagonals congruent: rectangle, square, isosceles trapezoid

Perpendicular bisectors: Rhombus, Square

Lindsay and Lorraine are trying to match the jump rope world record. Together, they need to jump 48 times in a row. Lindsay has gotten 14 jumps in a row, and Lorraine has gotten 13. Write an equation using (j) as the variable and show your work to determine how many more jumps they need to complete.



( if u steal my points ill steal yours)

(no links or ill report)

Answers

Answer: They need to complete 21 more jumps all together .

Step-by-step explanation: So 14+13=J

14+13=27

27=j

World record: 48; 48-27=21

They will have to jump 21 more times in a row .

what is 25/x 15/30 can you please help ​

Answers

Answer:

x = 50.... 25/50 = 15/30 or 1/2 = 1/2

Step-by-step explanation:

25/x = 15/30

consider the cross multiply

25 * 30 = 15 * x

750 = 15x

divide both sides with 15 to make the co-efficient of x, 1.

x = 50

Answer:

5×15/6

5×5/2

25/2

12.2 is your answer ☺️☺️☺️. If I'm right so,

Please mark me as brainliest. thanks!!!

Please help :) thank you to whoever does help!?

Answers

Answer:[tex]\boxed{\boxed{\sf{a=5}}}[/tex]Solution Steps:

____________________________

1.) Fill in the formula: F = [tex]B^2-C^2=A^2[/tex]F = [tex]12^2-13^2=A^2[/tex]F = [tex]144-169=A^2[/tex]

2.) Subtract:[tex]169-144=25[/tex]

3.) Find the square root of 25:[tex]\sqrt{25} =5[/tex]

So your answer would be C, [tex]\bold{a=5}[/tex].

____________________________

Welp what is 103883+293883=? please helppp mah mum in city :')​

Answers

The answer is 397766 hope this helps

[tex]\huge{\mathbb{\tt { PROBLEM:}}}[/tex]

Help What is 103883+293883=?

[tex]\huge{\mathbb{\tt { ANSWER:}}}[/tex]

397766

[tex]{\boxed{\boxed{\tt { SOLUTION:}}}}[/tex]

[tex] \: \: \: 103883 \\ \frac{+293883}{ \: \: \: \: 397766} [/tex]

----------------------------------------------------------------------------------------------------

[tex]\huge{\mathbb{\tt { WHAT \: IS \: ADDITION \: ?}}}[/tex]

Addition is one of the four basic operations of arithmetic, the other three being subtraction, multiplication and division. The addition of two whole numbers results in the total amount or sum of those values combined

#CarryOnLearning

#JustEnjoyTheSummer

XxKim02xX

3/4 + 7/8 + 5/6
(this is here because the question was too short)

Answers

Answer:23/8Step-by-step explanation:(LCM of 4,8 and 6 = 24 )

3×6/4×6 + 7×3/8×3 + 5×4/6×4 28+21+20/24

59/24

I hope you got it❤️❤️❤️And thanks your patience ❤️.SORRY

Use completing the square to find the equation of the following circle in standard form.

x2 + y2 - 4x + 12y - 16 = 0

Answers

Answer:

Here's a calculator that should help

Step-by-step explanation:

https://www.calculatorsoup.com/calculators/algebra/completing-the-square-calculator.php

Draw a two-dimensional representation of each prism. Then find the area of the entire surface of each prism

Answers

Answer:

Surface area of cuboid = 78 unit²

Step-by-step explanation:

Given diagram is a cuboid prism

Given:

Length of cuboid = 5 unit

Width of cuboid = 3 unit

Height of cuboid = 3 unit

Find:

Surface area of cuboid

Computation:

Surface area of cuboid = 2[lb + bh + hl]

Surface area of cuboid = 2[(5)(3) + (3)(3) + (3)(5)]

Surface area of cuboid = 2[15 + 9 + 15]

Surface area of cuboid = 2[39]

Surface area of cuboid = 78 unit²

An element with a mass of 700 grams decays by 6.1% per minute. To the nearest
tenth of a minute, how long will it be until there are 220 grams of the element
remaining?

Answers

Answer:

11.2 minutes

Step-by-step explanation:

If the element decreases by 6.1, every minute, it means that the mass lost every minute = 0.061 x 700g = 42.7g

The mass remaining after a minute = 657.30g

The equation that can be used to solve this question is :

700 - 42.7m = 220

m = minutes

Collect like terms

700 - 220 = 42.7m

480 = 42.7m

divide both sides of the equation by 42.7

m = 11.241218 minutes

the tenth is the first number after the decimal place. To convert to the nearest tenth, look at the number after the tenth (the hundredth). If the number is greater or equal to 5, add 1 to the tenth figure. If this is not the case, add zero

Here, the hundredth is less than 5, so zero would be added to 2. the answer is 11.2 minutes

Answer:

18.4

Step-by-step explanation:

I answered the question

yo i need help please i need the correct answer i will give u a brainliest to please just help me

Answers

Answer:

a

Step-by-step explanation:

Write an expression that is equivalent to -4(3x – 7).
-4(3x – 7) =
– D
2 +
?

Answers

Another way to express it would be -12x+28

.222222222 as a fraction Please help

Answers

Answer:

222222222/1000000000

Step-by-step explanation:

The chess club has 25% more males and females. If there were 20 males, how many females are there in the club.

How many less were the females?

Number of Females =

Thank You!!!!​

Answers

Answer:

number of females =16

Step-by-step explanation:

100% + 25% =125%. 125%=number of males. 100\125 ×20=16. 20 - 16 =4

Which expression is equivalent to (-3)x+(3)(-12)?

Answers

Answer:

Step-by-step explanation:

(-3)x + (3)(-12)

= -3x -36

or -3(x + 12)

Answer:

Step-by-step explanation:

(-3)x + 3(-12) = (-3) (x + 12)

(-3) is both the two terms. So we can take (-3) as common

Gary buys a 3 and 1/2 - pound bag of cat food every 3 weeks. Gary feeds his cat the same amount of food each
day. Which expression can Gary use to determine the number of pounds of cat food his cat eats each
year? (1 year = 52 weeks)

Answers

Answer:

546

Step-by-step explanation:

3 1/2 times 3 equals 10 1/2. 10 1/2 times 52 equals 546.

Ahh i hate math fr someone help

Answers

i think C but probably try to find something to back it up
All you gotta do is divide the pound by the cost

6n-18n-18=6 slove by factoring

Answers

Answer:n=−2

Step-by-step explanation:

the answer would be n= -2

Can someone please help me with this questions please help me I really need help please.

Answers

Answer:

C) Line A does not intersect Line B.

Step-by-step explanation:

Line A passes through (6 ,-30) & (-2 , 10)

Line B passes through (-4 , 28) & (2 , -2)

Find the slopes for each line. To find the slope, use the slope formula:

slope (m) = [tex]\frac{y_2 - y_1}{x_2 - x_1}[/tex]

Line 1:

Let:

[tex](x_1 , y_1) = (6 , -30) \\(x_2 , y_2) = (-2 , 10)[/tex]

Plug in the corresponding numbers to the corresponding variables:

m = [tex]\frac{10 - (-30)}{-2 - 6} = \frac{10 + 30}{-8} = \frac{40}{-8} = \frac{-5}{1}[/tex]

Line 2:

Let:

[tex](x_1 , y_1) = (2 , -2)\\(x_2 , y_2) = (-4 , 28)[/tex]

Plug in the corresponding numbers to the corresponding variables:

m = [tex]\frac{28 - (-2)}{-4 - (2)} = \frac{28 + 2}{-4 - 2} = \frac{30}{-6} = \frac{-5}{1}[/tex]

The two lines share the same slope, therefore, they are parallel to each other. This means that they do not intersect at any given point.

Kendra Buys three bracelets for $48 which table shows the correct amount she would need to pay to buy nine or 13 bracelets at the same price per bracelet

Answers

Answer:

The answer is B

Step-by-step explanation:

Divide 48 by 3 which gives you the total amount for one bracelet then you have to multiply the amount by 9 and 13 and then find your answer in the letters.

The proportion relationship is as follows;

number of bracelet         total cost($)

                3                           48

                9                            144

               13                           208

Proportional relationship

Proportional relationship is one in which two quantities vary directly with each other.

Therefore, we can establish a proportional relationship between the number of bracelets and it cost.

Hence,

let

x = number of bracelet

y = cost of the bracelets

Therefore,

y = kx

where

k = constant of proportionality

48 = 3k

k = 48 / 3

k = 16

Let's find the cost for 9 or 13 bracelet

y = 12x

y = 16(9) = 144

y = 16(13) = 208

learn more on proportional relationship here: https://brainly.com/question/11807654

Please answer these 3 answers correctly

Answers

Answer: 3. Tan; 4. 4.76; 5. 12

Step-by-step explanation: First question: SOH CAH TOA; if you draw a picture with the given information you know the Opposite and Adjacent sides to the upper left angle, or OA which is also Tan according to Soh Cah Toa. Second question: Use inverse tan(1/12) to solve. Third question: Same idea as the last question but use inverse sin(1/5)

The lengths of three line segments are shown above. Which of the following statements is true?

Answers

Where is the three lines segments

Hello, can someone please assist me with this problem.

Answers

So for this problem you need to find the length of a side of the square. To do this you can use Pythagorean theorem to find the length of the right triangle with the side of the square as it’s hypotenuse.
The Pythagorean theorem is:
a^2 + b^2 = c^2
a = 1 and b = 3
1^2 + 3^2 = c^2
10 = c^2
square root of 10 = c

Now that we know the length of the side, we can find the area of the square. Area of a square = side^2, so:
Area = (square root of 10)^2 = 10

The area of the square is 10!

please HELP! USE PYTHAGOREAN THEOREM TO FIND RIGHT TRIANGLE SIDE LENGTHS
formula A(2)+B(2)=C(2)

Answers

Answer:

x =  √ 40

Step-by-step explanation:

6 x 6 = 36 2 x 2 = 4 36 + 4 = 40

100 POINTSSS PLZZZZZZZZZZZ

Answers

Answer:

The correct anser is B. (i think. sorry if wrong) have a wonderfull day. dont let them bring you down. your amazing just the way you are.

Step-by-step explanation:

Step-by-step explanation:

\blue{\large \rightarrow }\: \boxed{ \sf{ \frac{1}{v} + \frac{1}{u} = \frac{1}{f} }}

A bag contains 9 and 54 blue marbles. If a representative sample contains 3 white marbles, then how many blue marbled would you expect to contain? Explain

Answers

Answer:

There should be 18 blue marbles in the representative sample.

Step-by-step explanation:

Given that a bag contains 9 white and 54 blue marbles, if a representative sample contains 3 white marbles, to determine how many blue marbles would you expect to contain the following calculation must be performed:

9 = 3

54 = X

54 x 3/9 = X

162/9 = X

18 = X

Therefore, there should be 18 blue marbles in the representative sample.

Help me please I will give points whenever u wanna

Answers

Answer:

x = 120 degrees or (c)

Step-by-step explanation:

It's 120 degrees...

...

HELP !!

In a sequence of numbers, a4=9, a5=15, a6=21, a7=27, and a8=33.

Which recursive rule can be used to find the nth term of the sequence, an?


a1=−9; an=an−1+6

a1=−9; an=6an−1

a1=9; an=an−1+6

a1=9; an=6an−1

Answers

Answer:

Given sequence:

a₄=9, a₅=15, a₆=21, a₇=27, and a₈=33

Common difference is:

33-27 = 27 - 21 = 21 - 15 = 15 - 9 = 6

Find the first term:

a₃ = 9 - 6 = 3a₂ = 3 - 6 = - 3a₁ = -3 - 6 = -9

Recursive formula:

a₁ = -9 and aₙ = aₙ₋₁ + 6

Correct choice is A

the base of the cylinder? Use 3.14 for n and round the answer
to the nearest hundredth.
h-13 in
r =
in.

Answers

Answer:

r = 7

Step-by-step explanation:

Volume of a cylinder:

V = πr²h

Given:

V = 2000

h = 13

Work:

V = πr²h

r² = V/(πh)

r² = 2000/(3.14 * 13)

r² = 2000/40.82

r² ≈ 49

[tex]\sqrt{r^2} =\sqrt{49}[/tex]

r = 7

Un estudiante reparte el tiempo de un día de la siguiente forma:

1/4 del día duerme,

1/12 del día lo usa para desplazarse caminando hasta el colegio, 5/12

del día lo usa para estudiar. ¿Qué parte del día le queda para compartir con su familia?​

Answers

Answer:

4 horas para compatir com su familia

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