Luke invested $2400 in two accounts. The first account pays 3% simple interest. The second account pays 3% compound interest with interest compounded annually(at the end of each year) After 10 years how much will the second account be worth than the first account?

Answers

Answer 1
The first account would be 720 in simple interest and the second account would be 3238.32 so subtracting would give 2518.32 more with than the first account. Comment if you need the full workings
Answer 2

The second account (compound interest) is worth more than the first account (simple interest) is $105.4.

What is compound interest?

Compound interest is the interest on a loan or deposit calculated based on the initial principal and the accumulated interest from the previous period.

What is simple interest?

Simple interest is the concept that is used in many companies such as banking, finance, automobile, and so on.

Luke invested $2400 in two accounts.

The first account pays 3% simple interest.

The second account pays 3% compound interest with interest compounded annually(at the end of each year) After 10 years.

The interest from the first account will be

[tex]\rm Simple \ Interest = \dfrac{2400*3*10}{100} = \$720[/tex]

The interest from the second account will be

[tex]\rm Compound \ interest = 2400(1.03)^{10} - 2400\\\\Compound \ interest = \$825.4[/tex]

Then the second account be worth more than the first account will be

→ $825.4 – $720 = $105.4

More about the compound interest link is given below.

https://brainly.com/question/25857212


Related Questions

help appreciated.
How many hours of training would you need to have a salary of $2,000?

Answers

Answer: you will have 56

Step-by-step explanation:

Answer:

100 hours

Step-by-step explanation:

Because 18 would be 1800 and then 19 would be 1900 and then 100 would be 2000

PLEASE HELP!


Priya is with her mother at the zoo’s gorilla exhibit. Priya is studying the chart displayed beside the gorilla exhibit, which shows the name and weight of each gorilla. Use the information in the chart to answer the questions in this activity.

Gorilla Weight Plugged into True or False?
5a + 8 = 318
(pounds)
Sophia 318
George 417
Nancy 310
Hank 136
Paula 62
Gavin 24

Part A
Priya’s favorite gorillas are a mother named Sophia and her baby. The zoo attendant said that Sophia weighs 8 pounds more than 5 times her baby’s weight. To determine the baby gorilla’s weight, Priya can use the equation 5a + 8 = 318, where a is the weight of the baby gorilla. Plug the weight of each gorilla into the equation to check which value makes the equation true.

Answers

Answer :

The value that makes the equation true is Paula 62

Step-by-step explanation:

Here, we want to plug the weight of each of the Gorilla to determine the weight that makes the equation true

all we have to do here is that in each of the cases, we substitute the value of a for the weight of each of the Gorilla

Sophia

a = 318

5a + 8

= 5(318) + 8

as we can see this is not equal to 318

George

For George, we substitute a for 417

That will be;

5(417) + 8

This is not 318

for Nancy

5(310) + 8

This is not equal to 318

for Hank

we have a as 136

5(136) + 8

This is not equal to 136

for Paula

5(62) + 8

= 310 + 8 = 318

we can see this is correct

for Gavin,

5(24) + 8

= 128 which is not equal to 318

The only equal value is that of Paula which is our answer

Answer:

Gorilla Weight

(pounds) Plugged into

5a + 8 = 318 True or False?

George 417  

5(417) + 8 = 318

2,093 = 318

false

Nancy 310  

5(310) + 8 = 318

1,558 = 318

false

Hank 136  

5(136) + 8 = 318

  688 = 318

false

Paula 62  

5(62) + 8 = 318

 318 = 318

true

Gavin 24  

5(24) + 8 = 318

 128 = 318

false

Step-by-step explanation:

Can someone help me please?

Answers

Answer:

it A ;)

Step-by-step explanation:

if f(x) = 72(1.25)^x and f(1) = 72(1.25)^1 = 11.25 f(2) = 72(1.25)^2 = ?????????
I need this solved ASAP it is important please help me NO FAKE ANSWERS

Answers

Answer:

f(1)=101.25 and f(2)=112.5

Step-by-step explanation:

f(1) = 72(1.25)^1 = 11.25

f(1)=90=11.25

f(1)=101.25

f(2) = 72(1.25)^2

f(2)=72(1.5625)

f(2)=112.5

Write these amounts as ratios in the simplest form
75 cm to 1.5 m (c)​

Answers

Step-by-step explanation:

75 cm =0.75 m

0.75/1.5=0.5

0.5=5/10=1/2

1:2

Answer:

ratio 1 to 2

Step-by-step explanation:

first convert 75cm to m

which is equal to 0.75m

0.75/1.5 =1 /2

the answer is 1 to 2

the the product of the zeros of
[tex] {x}^{2} + 4 {x}^{2} + x - 6[/tex]
is
a)-4
b)4
c)6
d)-6​

Answers

-6 I think if it is product of zero
The answer should be d

Plz help ASAP I will mark brainleist

Answers

Answer:

6 units

Step-by-step explanation:

They are on the same y-point and so you just have to count the spaces between them on the x-axis.

12 units is the distance between q and r

Toni rows a boat 4.5 km/h upstream and then turns around and rows 5.5 km/h back downstream to her starting point. If her total rowing time is 48 min, for how long does she row upstream? Express your answer to the nearest minute.


A. about 30 min

B. about 26 min

C. about 44 min

D. about 24 min

Answers

Answer:

b

Step-by-step explanation:

If y = 2 and x = 5, Then solve
3x + 4 + 2y
A 20
B 61
C 23
D 0

Answers

Answer:

C

Step-by-step explanation:

The perimeter of a rectangle is 42 inches. If the width of the rectangle is 6 inches, what is the length?
reminder: perimeter is distance around an object- length + width + length + width

12 inches

15 inches

21 inches

40 inches

Answers

Answer:

15 inches

Step-by-step explanation:

42 = 2L + 2(6)

first, we need to isolate L.

solve 2(6) to make this easier

42 = 2L + 12

42 - 12 = 2L + 12 - 12 ( this cancels out 12. )

30 = 2L

30 ÷ 2 = 2L ÷ 2 ( this cancels out 2. )

15 = L

please help me, i have to turn this in in 10 mins & i need the answer

Answers

Answer:

the first one

Step-by-step explanation:

...........

The first one pretty sure

Can anyone help me please?

Answers

Answer:

A' (-6, 4)

B' (2, 2)

C' (-2, -2)

Step-by-step explanation:

Multiply each number by 2.

Multiply each number by 2

1.Ms. Bowery bought five shirts and one pair of pants for a total of $56.23. Each shirt cost
the same price. The pants cost $7 more than a shirt. How much did each shirt cost? Round to
the nearest dollar and cent
A) $9.20
B) $49.26
C) $8.20
D) $10.20

Answers

Answer:

[tex]\mathrm{C)\:} \$8.20[/tex]

Step-by-step explanation:

Let [tex]s[/tex] represent the cost of each shirt in dollars. We can write the cost of the pants as [tex]s+7[/tex]. Using these terms, set up the following equation:

[tex]5s+(s+7)=56.23[/tex].

Solving, we get:

[tex]5s+s+7=56.23,\\6s=56.23,\\6s=49.23\\s\approx \fbox{$\$8.20$}[/tex]

I believe it’s C. Because $8.20x5 is 41, then 8.50+7= $15.50 so then add 41+15.50= 56.50. That’s just my guess.

You can buy 20 fluid ounces of shampoo for $4.40 or, you can buy 24 fluid ounces for $4.80 which is the better buy? Please answer in complete sentences and i will give brainliest with most detail please don answer for points i will delete your answer

Answers

Answer: the 20 fluid ounces is better

Step-by-step explanation:

If you divide 20 by 4.40 that is 4.54 but if you divide 24 by 4.80 that is 5. You want to divide 20 by 4.40 because 20 is the fluid ounces and 4.40 is the money divide that to get the cost per fluid ounce then you do the same with the 24 fluid ounces and by doing that you get the sot for 1 fluid ounce then look at both of your answers and see which one is less. which one is less is the better one.

can someone pls help!!!

Answers

3n+4=10

answer= n=2

c+2=18

Need help ??????????????

Answers

Answer: the answer is the first one ,the third one , and the fourth

Step-by-step explanation:5x5 25

15x15 225

11. Sara borrowed *60,000 from a money lender at 15% rate of interest per annum. What is
the interest she paid after 4 years?​

Answers

Answer:

36000

Step-by-step explanation:

Given the following

Principal = 60,000

Rate = 15%

Time = 4years

Using the simple interest formula

SI = PRT/100

SI = 60000*15*4/100

SI = 600 * 60

SI = 36,000

Hence the interest paid after 4 years is 36000

PLEASE HELP ME WITH THIS! I WILL FAIL IF I DONT TURN THIS IN​

Answers

Answer:

A

Step-by-step explanation:

I am 100% sure

A number minus twice another number is 4. Three times the first number plus two times the second number is 12. What are the numbers?

Answers

Answer:

4 and 0

Step-by-step explanation:

I hope this helps

The first number is 4 and the second number is 4.

What is the system of equation?

One or many equations having the same number of unknowns that can be solved simultaneously called as simultaneous equation. And simultaneous equation is the system of equation.

Given:

A number minus twice another number is 4.

Three times the first number plus two times the second number is 12.

Let numbers are n and m.

According to the question;

n- 2m = 4      equation 1

3n + 2m = 12      equation 2

Now, we have the system of equation.

To solve the equation,

Add both of the equation,

4n = 16

n = 4

Then m = 0

Therefore, 0 and 4 are the numbers.

To learn more about the system of equation;

brainly.com/question/13729904

#SPJ2

Which answer choice describes y = -3x2 +7x - 2 accurately?

Answers

Answer:y =  y = -7x

Step-by-step explanation: y - 14 = -7(x - (-2))

y - 14 = -7x - 14

Solve the following inequalities and sketch a
graph of each solution.
a 7 - 2x 54
b 4r + 16x - 8
c-3x + 5 > 0​

Answers

Answer:

Step-by-step explanation:

A= - 101

B = 4( r + 4x - 2 )

C = x < 5/3

I hope this helps. Best of luck.

Order from least to greatest 5; -2; -10; -1
PLEASE ANSWER THISSS!!!!

Answers

From least to greatest

-10,-2,-1 ,5

Evaluate the power.

0.4 2=____

Answers

Answer:

0.2

Step-by-step explanation:

Answer:

0.16

Step-by-step explanation:

Sebastian bought snacks for his team': practice. He bought a bag of popcorn for $1.68 and a 15-pack of juice bottles. The total cost before tax was $21.78. Write and solve an equation which can be used to determine x, how much each bottle of juice costs?

Answers

Answer:

Each bottle of juice costs $1.34.

Step-by-step explanation:

From the information given, the equation would indicate that the total cost is equal to the price per bag of popcorn for the number of bags plus the price per pack of juice bottles for the number of packs.

Total cost=(1.68*1)+15x

Total cost=1.68+15x

Now, you can replace the total cost with $21.78 and solve for x:

21.78=1.68+15x

21.78-1.68=15x

20.1=15x

x=20.1/15

x=1.34

According to this, the answer is that each bottle of juice costs $1.34.

Answer: $1.25

Step-by-step explanation:

If you could help I would really appreciate it, but if not that’s fine. Thank you.

Answers

since -2 is less than or equal to -1 input it into the first equation.

-3•(-2)-4
6-4
2

the answer is 2

What is X+Y?? and ( x+ y)- 7+8

Answers

Step-by-step explanation:

What is X+Y?

First note that if x + y = xy then neither x nor y can be equal to 1.

That being said, as a previous user already noted y = x/(x-1) and hence x - y = x - x(x-1) = x(x-2)/(x-1). Assume x - y = D. Then your question becomes what can D be so that the equation x(x-2)/(x-1) = D has a solution different than 1.

Rewrite this equation as x(x-2) = D(x-1) and note that x(x-2) = (x-1)^2 - 1. Replace x - 1 with z. So your question is what can D be so that the equation z^2 - 1 = Dz has a nonzero solution? Given that 0 cannot be a solution anyway of the previous equation. The question is really, for which D does the quadratic equation z^2 - Dz - 1 = 0 have solutions? By elementary 9th grade math, this equation has a solution when its discriminant D^2 + 4 is nonnegative. But D^2 + 4 is strictly positive regardless of the value of D. Hence D can be anything.

How to solve your question

Your question is

(+)−7+8

Simplify

1. Eliminate redundant parentheses

(+)−7+8

+−7+82

Add the numbers

+−7+8

++1

Solution

++1

What is 7/2 divided by 5/4

Answers

Answer:

14/5

Step-by-step explanation:

7/2÷5/4

7/2×5/4

7×4/2×5

28/2×5

28/10

14/5

Answer:

Step-by-step explanation:

[tex]7/2/5/4[/tex]

This could be written as

[tex]7/2 (4/5)[/tex]

Multiply these answers

28/10 = 2.8

At 3pm the outside Temperature was 4°F . The Temperature then fell steadily by 2°F every hour for the next four hours . What was the temperature at 7 PM

Answers

Answer:

Step-by-step explanation:

Temperature at 3pm: 4° F

After the decrease in temperature per hour by 2°F

Temperature at 4pm: 2°F

Temperature at 5pm: 0°F

Temperature at 6pm: -2°F

Temperature at 7pm:-4°F

Hence we can say that the temperature at 7pm is -4°F

I need help with this question

Answers

Answer:

The scale factor is 1 to 3

Step-by-step explanation:

Here, we want to determine the dilation scale

As we can see we have a dilation of 9 to 27

The ratio here will be;

9 to 27

which is 1 to 3

record the letters in your triangle from left to right example ABCDEFGHI​

Answers

Answer:

ABYARCIST

Step-by-step explanation: like that hope i did it right

Triangle is a polygon with 3 sides. The record of the letters in your triangle from left to right is EGFBIHDCA.

What is a triangle?

A triangle is a polygon with 3 sides. Also, It has three vertices.

As the example is given to us, ABCDEFGHI is the record of the letters that are when seen from top to bottom, therefore, if we rotate the triangle such that the left side of the triangle is on the upper side, then the triangle we will get is given below.

Thus, the record of the letters in your triangle from left to right is EGFBIHDCA.

Learn more about Triangle:

https://brainly.com/question/25813512

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