You are given a choice of taking the simple interest on ​$100,000 invested for 4 years at a rate of ​%3 or the interest on ​$100,000 invested for 4 years at an interest rate of 3​% compounded . Which investment earns the greater amount of​ interest? Give the difference between the amounts of interest earned by the two investments.

Answers

Answer 1

The investment with compound interest earns a greater amount of interest by $486.12 compared to the investment with simple interest.

To determine which investment earns a greater amount of interest, we need to calculate the interest earned in both scenarios and compare the results.

1. Simple Interest:

The formula for simple interest is given by: I = P * r * t, where I is the interest, P is the principal amount, r is the interest rate, and t is the time period.

Using this formula, we can calculate the interest earned with simple interest:

I = 100,000 * 0.03 * 4

I = $12,000

2. Compound Interest:

The formula for compound interest is given by: A = P * (1 + r/n)^(n*t), where A is the final amount, P is the principal amount, r is the interest rate, n is the number of times interest is compounded per year, and t is the time period.

In this case, the interest is compounded annually, so n = 1. Let's calculate the amount earned:

A = 100,000 * (1 + 0.03/1)^(1*4)

A = 100,000 * (1.03)^4

A = $112,486.12

The interest earned in the compound interest scenario is A - P = $112,486.12 - $100,000 = $12,486.12.

The difference between the amounts of interest earned by the two investments is:

$12,486.12 - $12,000 = $486.12.

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Related Questions

Solve the linear inequality. Express the solution using interval notation.
13 ≤ 4x − 3 ≤ 29

Answers

[tex]13 \leqslant 4x - 3 \leqslant 29 \\ 13 + 3 \leqslant 4x \leqslant 29 + 3 \\ 16 \leqslant 4x \leqslant 32 \\ 16 \div 4 \leqslant x \leqslant 32 \div 4 \\ 4 \leqslant x \leqslant 8[/tex]

Can someone help me please? ASAP

Answers

Answer:

triangle XYZ is similar to triangle RPQ

scale factor = 2/5

Step-by-step explanation:

Angles X and R are given as congruent.

Angles Z and Q are right angles, so they are congruent.

Then, angles Y and P must be congruent.

The similarity statement is

triangle XYZ is similar to triangle RPQ

To find the scale factor, divide the length of a side of the image by the length of the corresponding side in the original.

10/25 = 2/5

The scale factor is 2/5.

Find the value of y.

Answers

Answer:

y = [tex]\sqrt{55}[/tex]

Step-by-step explanation:

using the Altitude- on- Hypotenuse theorem

(altitude)² = product of parts of hypotenuse

then

y² = 11 × 5 = 55 ( take square root of both sides )

y = [tex]\sqrt{55}[/tex]

Sets Sets M and Fare defined as follows: M = {a,b,c,d} F = {c, d, e, f} Find the intersection of M and F.​

Answers

The intersection of sets M and F contains the elements "c" and "d".

To find the intersection of sets M and F, we need to identify the elements that are common to both sets.

M = {a, b, c, d}

F = {c, d, e, f}

The intersection of M

and F is denoted by M ∩ F, which represents the set containing elements that are present in both M and F.

Looking at the elements in M and F, we can see that the common elements between the two sets are "c" and "d".

Therefore, the intersection of M and F can be expressed as:

M ∩ F = {c, d}

So, the intersection of sets M and F contains the elements "c" and "d".

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Sandro would like to retire at age 60 with an income of $1500 per month from his
retirement savings. If he is to receive these payments until he is 90 years old, what
amount would he need in his retirement savings account at age 60, if the account
earns 4.5% compounded monthly?

Answers

The amount (present value at age 60) that Sandro would neet in his retirement savings account in order to have a monthly income of $1,500 until he is 90 years old, compounded at 4.5% monthly is $296,041.74.

How the present value is computed:

The present value is computed using an online fiance calculator that discounts the future withdrawals (monthly income) for a 360-months period.

End of withdrawal period = 90 years old

Beginning of withdrawal period = 60 years old

The number of years between 60 and 90 = 30 years

N (# of periods) = 360 months (30 years x 12)

I/Y (Interest per year) = 4.5%

PMT (Periodic Payment) = $-1,500

FV (Future Value) = $0

Results:

Present Value (PV) = $296,041.74

Sum of all periodic payments = $540,000 ($1,500 x 360 months)

Total Interest = $243,958.26

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21x² - 2x + 1/2 =0

find the following quadratic equation by factorization method
PLESE SOMEONE HELP

Answers

Step-by-step explanation:

21x²-2x +1/2 = 0

x² - 2x ×21 + 1/2× 21 = 0

Drag each label to the correct location on the table. Each label can be used more than once, but not all labels will be used.
Complete the table by classifying the polynomials by degree and number of terms.
quadratic
constant
exponential
Polynominal
(picture)

Answers

The names of the expressions are;

1) Monomial, quadratic

2) Monomial, constant

3) Binomial, Linear

4) Trinomial, quadratic

What are polynomials and trinomials?

An algebraic expression that has one or more terms, each of which is a variable raised to a non-negative integer exponent and multiplied by a coefficient, is referred to as a polynomial. The terms are mixed by adding or removing. A polynomial may include 0 terms or more.

A particular kind of polynomial known as a trinomial has exactly three terms. Trinomials are made up of three different pieces, which are frequently denoted by the formula "ax2 + bx + c," where "a," "b," and "c" are coefficients.

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Write an equation for the function graphed below

Answers

The rational function graphed in this problem is defined as follows:

y = -2(x - 1)/(x² - x - 2).

How to define the rational function?

The vertical asymptotes of the rational function for this problem are given as follows:

x = -1 and x = 2.

Hence the denominator of the function is given as follows:

(x + 1)(x - 2) = x² - x - 2.

The intercept of the function is given as follows:

x = 1.

Hence the numerator of the function is given as follows:

a(x - 1)

In which a is the leading coefficient.

Hence:

y = a(x - 1)/(x² - x - 2).

When x = 0, y = -1, hence the leading coefficient a is obtained as follows:

-1 = a/2

a = -2.

Thus the function is given as follows:

y = -2(x - 1)/(x² - x - 2).

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Type the correct answer in each box.
Day Amount
1
$26
2
$23
3
$31
4
$26
5
534
The table shows the amount Bill spent on 5 days last week.
The mean of the amount he spent is $
The mean absolute deviation is $
Reset
Next

Answers

The mean absolute deviation is $106.6.

Given the table shows the amount Bill spent on 5 days last week.

DayAmount12622313126534To find the mean of the amount he spent: The formula for calculating the mean of a given set of values is mean=∑x/n where x represents the values, n represents the number of values, and ∑x represents the sum of the values.

Mean=total sum of values/total number of values Mean=(26+23+31+26+534)/5Mean=640/5Mean=128So,

the mean of the amount he spent is $128.To find the mean absolute deviation: The mean absolute deviation (MAD) is the average distance between each data value and the mean. MAD shows how much the data set deviates from the mean. The formula for calculating the MAD is MAD=∑|xi−m|/n where xi represents the values, m represents the mean, and n represents the number of values. So, the calculation for each day is:

Day Amount Absolute deviation from mean1 26 |128-26|=102 23 |128-23|=105 31 |128-31|=974 26 |128-26|=102 534 |128-534|=406

The sum of all absolute deviations is:

10+10+97+10+406=533The mean absolute deviation (MAD) is: MAD=533/5=106.6So.

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factor and solve if necessary
7x^2-14x+7

Answers

Hello!

7x² - 14x + 7

7(x² - 2x + 1)

= 7(x(x - 1) - 1(x - 1))

= 7((x - 1)(x - 1))

= 7(x - 1)²

The area of a square is 36 sq.cm, then its perimeter is a) 24 cm b) 6 cm c) 144 cm d) 36 cm​

Answers

Answer:

Step-by-step explanation:

3.6*

It is very easy to find the perimeter of a square when its area is given in the question. For that, you only ned to know one fomula. That formula is: Area = side^2

For this particular question, the given value for the area of the square is 36 sq.cm. So, we can solve for the side(s) by substituting the given value in the above mentioned formula.

We get

36 = s^2

Now, we need to get the square root of both sides, which gives us

s = √36 s = 6 cm

Since all the sides of a square are equal in length, the side length is 6 cm. Now to determine the perimeter, we must multiply the side length by 4 (because there are 4 equal sides in a square). That gives us Perimeter = 4 x side length Perimeter = 4 x 6 cm.

Therefore, the perimeter of the square is 24 cm.

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)The mean voltage of a battery is 15 and S.D 0.2.Find the probability that four such batteries connected in series will have combined voltage of 60.8 or more volts

Answers

The probability that four batteries connected in series will have a combined voltage of 60.8 or more volts is approximately 0.0228 or 2.28%.

To find the probability that four batteries connected in series will have a combined voltage of 60.8 or more volts, we need to use the concept of the Central Limit Theorem.

In this case, we know that the mean voltage of a single battery is 15 volts and the standard deviation is 0.2 volts. When batteries are connected in series, their voltages add up.

The combined voltage of four batteries connected in series is the sum of their individual voltages. The mean of the combined voltage will be 4 times the mean of a single battery, which is 4 * 15 = 60 volts.

The standard deviation of the combined voltage will be the square root of the sum of the variances of the individual batteries. Since the batteries are connected in series, the variance of the combined voltage will be 4 times the variance of a single battery, which is 4 * (0.2)^2 = 0.16.

Now, we need to calculate the probability that the combined voltage of four batteries is 60.8 or more volts. We can use a standard normal distribution to calculate this probability.

First, we need to standardize the value of 60.8 using the formula:

Z = (X - μ) / σ

Where X is the value we want to standardize, μ is the mean, and σ is the standard deviation.

In this case, the standardized value is:

Z = (60.8 - 60) / sqrt(0.16)

Z = 0.8 / 0.4

Z = 2

Next, we can use a standard normal distribution table or calculator to find the probability associated with a Z-score of 2. The probability of obtaining a Z-score of 2 or more is approximately 0.0228.

Therefore, the probability that four batteries connected in series will have a combined voltage of 60.8 or more volts is approximately 0.0228 or 2.28%.

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PLEASE HELP! what direction will these electrostatic forces go?

Answers

Step-by-step explanation:

this is physics (not math per se).

the first moves to the left, because the distance to the positive charge on the left is shorter than the distance to the positive charge on the right.

the second moves to the right, because the positive charge is greater there and the distance to the positive charge is shorter too.

the third stays where it is. the -2 charge moves to the left until it hits the first +2 charge. there they neutralize each other, and nothing else is happening. also before -2 and +2 meet, they are neutralizing each other already for an outside observer (like the green ringed +2).

but - it depends how picky your teacher tries to be here.

because when you look at the very fine details, until -2 and the right +2 meet and really neutralize each other, there is a tiny little overhang of positive charges the green ringed +2 charge would "feel". simply because the +2 is a little bit closer than the -2.

and when we consider this, the green ringed +2 would move very little to the left (repelled by the other positive overhanging charge on the right) until -2 and +2 actually meet.

What is the discriminant of the quadratic equation -x^2+6x-6=0

Answers

The discriminant of the quadratic-equation -x^2 + 6x - 6 = 0 is 60.

The discriminant of a quadratic equation of the form ax^2 + bx + c = 0 is given by the expression Δ = b^2 - 4ac.

In the given quadratic equation -x^2 + 6x - 6 = 0, we can identify that a = -1, b = 6, and c = -6.

Substituting these values into the discriminant formula, we have:

Δ = (6)^2 - 4(-1)(-6)

The discriminant plays a crucial role in determining the nature of the solutions of a quadratic equation. If the discriminant is positive (Δ > 0), then the equation has two distinct real solutions. If the discriminant is zero (Δ = 0), then the equation has one real solution (also known as a double root). If the discriminant is negative (Δ < 0), then the equation has no real solutions, but it may have complex solutions involving imaginary numbers.

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Alexei finances her purchase of a $900 television. Her one-year loan has a fixed annual interest rate of 2.5%.
What is Alexei's monthly payment?

Answers

Alexei's monthly payment is approximately $18.56.

Alexei finances her purchase of a $900 television with a one-year loan that has a fixed annual interest rate of 2.5%. To find Alexei's monthly payment, we can use the formula for calculating monthly loan payments.
The formula for calculating monthly loan payments is:
M = (P * r * (1 + r)^n) / ((1 + r)^n - 1)
Where:
M = monthly payment
P = principal loan amount
r = monthly interest rate (annual interest rate divided by 12)
n =number of monthly payments
In this case, the principal loan amount (P) is $900, the annual interest rate (r) is 2.5% (or 0.025 when expressed as a decimal), and the number of monthly payments (n) is 12 (since it is a one-year loan).
First, we need to calculate the monthly interest rate (r) by dividing the annual interest rate by 12: r = 0.025 / 12 = 0.002083.
Next, we can substitute the values into the formula:
M = (900 * 0.002083 * (1 + 0.002083)^12) / ((1 + 0.002083)^12 - 1)
Simplifying the formula gives us:
M = (900 * 0.002083 * 1.002083^12) / (1.002083^12 - 1)
Calculating the values inside the formula gives us:
M = (900 * 0.002083 * 1.026260) / (1.026260 - 1)
Further simplifying the formula gives us:
M = (900 * 0.002083 * 1.026260) / 0.026260
Finally, calculating the expression gives us:
M ≈ 18.56
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