Over time, compound interest at any rate will outperform simple interest. When the rates are nearly equal to start with, compound interest will be greater in very short order. Here, it takes less than 1 year for compound interest to give a larger account balance.
In 30 years, the simple interest will be
... I = P·r·t = 12,000·0.07·30 = 25,200
In 30 years, the compound interest will be
... I = P·(e^(rt) -1) = 12,000·(e^(.068·30) -1) ≈ 80,287.31
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6.8% compounded continuously results in more total interest
Answer:
person b because the person has $89 so the person can get any meal
Step-by-step explanation:
Answer:for FRR method the difference equation is given by:
u(k+1)=0.8125u(k)+(-24.68)e(k)+25e (k+1)
Step-by-step explanation:see the pictures attached
Answer:
−p−30
Step-by-step explanation:
Let's simplify step-by-step.
4p−5(p+6)
Distribute:
=4p+(−5)(p)+(−5)(6)
=4p+−5p+−30
Combine Like Terms:
=4p+−5p+−30
=(4p+−5p)+(−30)
=−p+−30
Answer:
=−p−30
Answer:
0.67
Step-by-step explanation:
<u>Solution 1</u>
We can work out the initial number by going backwards from the end:
67/1000= 0.067
0.067*100= 6.7
6.7/10= 0.67
<u>Solution 2</u>
(x*10/100)*1000= 67
x/10*1000= 67
100x= 67
x=67/100
x=0.67
