Answer:
A
Step-by-step explanation:
We have to determine the future value of the annuity to determine which account has a greater value
Future value = Amount x annuity factor
annuity factor = Annuity factor = {[(1+r)^n] - 1} / r
Account A = 300 x[ (1.042)^15 - 1 ] / 0.042 = $6097.14
Account B = 250 x[ (1.051)^15 - 1 ] / 0.051 = $5435,42
Account A will be greater
<h3>AG = 27 and VA = 24. What is TO? </h3>
A. 45
B. 43
<h3>C. 36</h3>
D. 90
#CarryOnLearning.
Answer:
6 Years
Step-by-step explanation:
Orlando invests $1000 at 6% annual interest compounded daily.
Orlando's investment =
Bernadette invests $1000 at 7% simple interest.
Bernadette's investment = A = 1000(1+0.07×t)
By trail and error method we will use t = 5
Bernadette's investment will be after 5 years
1000(1 + 0.07 × 5)
= 1000(1 + 0.35)
= 1000 × 1.35
= $1350
Orlando's investment after 5 years
=
=
= 1000(1.349826)
= 1349.825527 ≈ $1349.83
After 5 years Orlando's investment will not be more than Bernadette's.
Therefore, when we use t = 6
After 6 years Orlando's investment will be = $1433.29
and Bernadette's investment will be = $1420
So, after 6 whole years Orlando's investment will be worth more than Bernadette's investment.
You have 90 and you have 15%
so you have to subtract 90 and 15%
90-15%=76.5
she puts $13.50 in savings and is able to spend $76.5
<em>Here we are required to determine the initial monthly fee charged by the electric company.</em>
The initial fee charged by the electric company is; C = $10
To solve this, we need to evaluate the slope and intercepts of the equation of the straight line graph of the relation.
y = mx + c.
- where m = slope of the relation.
- and c = <em>intercept = the initial fee charged by the electric company</em>.
- y = <em>Monthly charge at each time</em>.
To find the slope;
By substituting m into the equation y = mx + c, alongside a pair of values of usage and monthly charge, we can obtain the intercept, c (i.e the initial fee charged).
Therefore, m = 0.12 , y = 82 and X = 600;
we then have;
Therefore, the initial fee charged by the electric company is; C = $10.
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