Bank A:
A = 4500(1 + (0.09 × 6)) = 6930
A = $ 6,930.00
The total amount accrued, principal plus interest,
from simple interest on a principal of $ 4,500.00
at a rate of 9% per year.
<span>for 6 years is $ 6,930.00.
</span>
Bank B:
A = 4500(1 + (0.11 × 4)) = 6480
A = $ 6,480.00
The total amount accrued, principal plus interest,
from simple interest on a principal of $ 4,500.00
at a rate of 11% per year
<span>for 4 years is $ 6,480.00.
</span>
So bank B would charge the least amount of interest.
You want to calculate the interest on $2000 at5.8% interest per month after six years?
Here is your formula: I =p*r*t
P is the principal amount which is $2000
R is the rate of interest which is 5.8% per month
T is the time involved whihc is six years
You’re interest is 8352.00
(a) When the sequence is arithmetic, sequential terms have a common difference.
... x - 3 = (4x/3) - x . . . . differences of sequential terms are equal
... (2/3)x = 3 . . . . . . . add 3-(1/3)x
... x = 9/2 . . . . . . . . . multiply by 3/2
(The arithmetic sequence is 3, 4.5, 6. The common difference is 3/2.)
(b) When the sequence is geometric, sequential terms have a common ratio.
... x/3 = (4x/3)/x . . . . . ratios of sequential terms are equal
... x^2 = 4x . . . . . multiply by 3x
... x = 4 . . . . . . . . divide by x. (the "solution" x=0 is extraneous)
(The geometric sequence is 3, 4, 16/3. The common ratio is 4/3.)
