The amount in simple interest is $3624 and in compound interest is $3674 the difference is of $50. So he should choose Simple interest.
<h3>What is compound and simple interest?</h3>
Simple interest is based on the principal amount of a loan or deposit. In contrast, compound interest is based on the principal amount and the interest that accumulates on it in every period.
Here we have the principle is $3000 for 4 years at the rate of interest of 5.2%. Now we will calculate the total amount by simple interest and compounded annually.
By using Simple interest:-
So the total amount will be =3000+624=$3624
By using the Compound interest formula:
The difference between the two amounts will be =3764-3624=$50
Hence amount in simple interest is $3624 and in compound interest is $3674 the difference is of $50. So he should choose Simple interest.
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Answer:
D
Step-by-step explanation:
if u said 5x=30 then its D
Hello! So Sophia cuts two pieces of ribbon that are different lengths and lines them up together. To find the total length of the two ribbons, let's add them up. Because there is no digit in the thousandths place, we'll fill that in with a zero. Now, let's add up the numbers. 9.281 + 7.740 = 17.021. There. The total length of the ribbons is 17.021 cm long.
Answer:
True
Step-by-step explanation:
Answer:NO, NO, YES
Step-by-step explanation: