Two different banks, Bank A and Bank B, offer accounts with exactly the same annual interest rate of 6.85%. However, the account from Bank A has interest compounded monthly, whereas the account from Bank B compounds interest continuously. To decide which bank to open an account with, you calculate the amount of interest you would earn after three years from an initial deposit of $5000 in each bank’s account. How much interest would you earn from each account? Which bank’s account earns more – and how much more?

Answers

Answer 1

Answer:

Solution given:

For bank A.

rate[R]=6.85%

principal [P]=$5000

time [T]=3years

now since simple interest is given by this bank

we have

Simple interest=PTR/100

=5000×6.85×3/100=$1027.5

For bank B

rate[R]=6.85%

principal [P]=$5000

time [T]=3years

now since compound interest is given by this bank

we have

compound interest=P((1+R/100)^T-1)

=$5000((1+6.85/100)³-1)=$1099.49

since

Bank B gives more interest .more amount is

1099.49-1027.5=$71.99 or $72


Related Questions

To the nearest tenth, what is the length of the hypotenuse of a right triangle whose legs are 9 centimeters and 14 centimeters

Answers

Use pythagorean theorem
Hope this helps xoxo

Perimeter, Area, and Volume
What is the volume of a
rectangular prism that has a
height of 6 inches, a length
of 2 inches, and a width of 7
inches?

Answers

Answer:

84

Step-by-step explanation:

LengthxWidthxHeight.

6x2x7=84

www-k6.thinkcentral.com/wwtb/api/viewer.pl
Personal Math Trainer Lesson 5.5 Share and Show - Assessment
2
A geologist visits 90 volcanoes in Alaska and California.
What if 80% of the volcanoes were in California? How many volcanoes would the geologist have visited in
California and how many in Alaska?
The geologist would have visited
volcanoes in California and
volcanoes in Alaska.

Answers

Ummm I need more infooooo...

los monitores que están fabricando estan apoyados en un soporte triangular, si el monitor mide 50 cm y debe tener una altura de 30cm ¿cuanto mide la base del soportre?

Answers

Answer:

La base del soporte mide 58.3 cm.

Step-by-step explanation:

Dado que los monitores que están fabricando están apoyados en un soporte triangular, si el monitor mide 50 cm y debe tener una altura de 30cm, para determinar cuánto mide la base del soporte se debe realizar el siguiente cálculo utilizando el teorema pitagórico:

50^2 + 30^2 = X^2

2,500 + 900 = X^2

3,400 = X^2

√3,400 = X

58.30 = X

Por lo tanto, la base del soporte mide 58.3 centímetros.

LO bisects &NLM, LM= 22, NO = 6, and LN= 14. What is the approximate value of x?

x= 3.8

x=9.4

x=51.3

x= 73.3

Answers

Answer:

9.4

Step-by-step explanation:

Given :

LM= 22, NO = 6, and LN= 14 ; MO = x

Since O bisects the triangle ;

LN / NO = LM / MO

14 / 6 = 22 / x

Cross multiply :

14 * x = 22 * 6

14x = 132

Divide both sides by 14

14x/14 = 132 / 14

x = 9.428

x = 9.4 ( 1 decimal place)

Find the value of x and round to the nearest tenth.

Answers

Answer:

should be 1213

Step-by-step explanation:

27×27=728

22×22=485

729+485= 1213

hi
khgbv h
ljv nkmj
gv hnyhrdsrfgbnkjnbhbbbhjik

Answers

Answer:

hihi

Step-by-step explanation:

Answer:

inspiringwords love it so much

Step-by-step explanation:

Find the missing side or angle.
Round to the nearest tenth.
A=18°
B= 28°
b=100
a=?

Answers

Answer:

34 i think

Step-by-step explanation:

if the sum is 180  then

18+28+100+34

sorry if its wrong

can anyone solve this?

Answers

Answer:

3×0+1=1

Step-by-step explanation:

i hope that helps

#Carryonlearning

Explain how to use a net to find the surface area of a prism

ANY ABSURD ANSWERS WILL BE REPORTED IMMEDIATELY

Answers

Answer:

use a net to fin surface area of a prism by multyplying 10 to the power of 50

Step-by-step explanation:

Answer:

To find the total surface area of a prism, you need to calculate the area of two polygonal bases, i.e., the top face and bottom face. And then calculate the area of lateral faces connecting the bases. Add up the area of the two bases and the area of the lateral faces to get the total surface area of a prism.

Step-by-step explanation:

help me plzzzzzzzzzzzzzzzzzzzzz

Answers

Answer:

A and B

Step-by-step explanation:

96% of 25

= [tex]\frac{96}{100}[/tex] × 25 ( per cent means out of 100 ) → A

= 0.96 × 25 ( divide 96 by 100 ) → B

(this is all the points I'm able to give) Find the surface area of the composite figure.
SA = [ ? ] cm^2

Answers

Answer:

{x}^{2}+5x+6

x  

2

+5x+6

Step-by-step explanation:

HI could some one please help me I will give you BRAINLEST!!!!

Answers

Answer:

16

Step-by-step explanation:

Option 4 16 have a good day

1. Which point is located at (2,0)?
(1 point)
1
в 2
4
2
D
OA
Ов
Ос
Ор

Answers

The point which is located at (2,0) is A, the correct option is 1.

How to find the function which is used to make graph?

There are many tools we can use to find the information of the relation which was used to form the graph.

A graph contains data of which input maps to which output.

Analysis of this leads to the relations which were used to make it.

For example, if the graph of a function is rising upwards after a certain value of x, then the function must be having increasingly output for inputs greater than that value of x.

If we know that the function crosses x axis at some point, then for some polynomial functions, we have those as roots of the polynomial.

We are given that;

The coordinates = (2,0)

Now,

The coordinates of point A = (2,0)

The coordinates of point B = (0,2)

The coordinates of point C = (-2,0)

The coordinates of point D = (0,-2)

Therefore, by the graph the answer will be Point A.

Learn more about finding the graphed function here:

https://brainly.com/question/27330212

#SPJ2

calculate the lateral area and volume of a truncated cone of radii 10cm and 12cm and a slant height of 15cm​

Answers

Answer:

The lateral surface is 212

Step-by-step explanation:

Lateeal surface area is = Ph

12+12+10+10(15)=212

plzzzzz help will mark brainliest

Answers

answer: -5.3’ Fahrenheit

the cylindrical part of an architectural column has a height of 320 cm and a diameter of 30 cm. find the volume of the cyndrical part of the coulmn . use 3.14 for and round your answer to the nearest cubic centimeter if needed.

Answers

Hopes this helps:

Answer: 226,080 cm^3

Have a great day.

AREA OF CIRCLES PLS HELPP​

Answers

Answer:

r = 3 ft

Step-by-step explanation:

A = πr²

9π = πr²

9π/π = r²

9 = r²

√9 = r

3 = r

Hope this helps!

What is the value of b on the number line below? A number line from 0 to 1 showing fourths. There is a dot labeled b that is halfway between one half and three fourths.

Answers

Answer:

B is 5/8

Step-by-step explanation:

Note: 4/8 = 1/2 and 6/8 = 3/4

The Jones family is expecting another baby. They have a 7 year old
boy and a 3 year old boy. What is the probability of having a girl?

Answers

Answer:

50%

Step-by-step explanation:

it is always 50%

the probability would not change even if you had 100 boys in a row

50%

Explanation
It will always be a 50/50 when having a child or any kind of relationship to that kind of thing

To those who can make a poem about math, please help me with this. I really need it right now but please answer it correctly. :(

Directions: Write a poem using the following words in the box.

Function
Range
Relation
Vertical Line
Imaginary
Domain
Variable
not Function

Thank you in advance!

Answers

Answer:

Poem:

Function is binary relation of two sets

have a single output but

not Function is having no function

have multiple output.

Range is a function refer to two closely concepts

but

Domain is a set of possible input values with concepts.

All the function are relation but

not all relation are function.

Relation is a collection of ordered pair but

imaginary is a collection of complex number written in imaginary unit.

Vertical line is parallel to y-axis but

horizontal line is parallel to x-axis.

To find the whole value of X, you should
I will mark you :)

Answers

Isolate the variable x and bring it on one side

then solve the equation

Hope this helps

PLEASE HELPPP I GIVE BRAINLIST

Answers

6w-24 equals the area of the overall rectangle minus the unshaded area. This allows for the shaded area to be left over.
6(w-4) is just the factored version of the one above. They took out the greatest factor (6) to generate the equivalent version.

a dog is leashed 48 feet to the corner of a house.howmuch running area does the dog have?​

Answers

Answer:

The dog has 1357.5 square feet of running space.

Step-by-step explanation:

48 feet is the diameter of the circle in which the dog can run, minus 1/4 of the total circle (assuming the dog can not run through walls).

The formula of how to find the area of a circle is...

A =  π r²

A stands for area, pi(π) is 3.14, and r means radius.

Radius is half of the diameter, so the radius would be 24 feet. Let's plug those numbers into the formula:

A = π x 24²

A = π x 576

A = 1809.56 square feet

Now, we have to subtract 1/4 of 1810 (rounded up).

1810 times 0.75 = 1357.5 feet.

I hope this helps you! :-)

Consider the conversion of the speed 156 feet per second to kilometers per hour. Which TWO statements are correct? A) 156 ft/s = 11,232 in/min B) 156 ft/s = 112,320 in/min Eliminate C) 156 ft 1s x 1min 60s x 12in 1ft D) 156 ft 1s x 60s 1min x 1ft 12in E) 156ft 1s x 60s 1min x 12in 1ft
I NEED THE ANSWER ASAP

Answers

Answer:

If your doing it on usa tp and have a through e is b and e

Step-by-step explanation:

The two (2) statements that are correct about this conversion are:

B) 156 ft/s = 112,320 in/min

E) 156ft 1s x 60s 1min x 12in 1 ft.

Given the following data:

Speed = 156 feet per seconds.

To convert the value of speed in feet per seconds to kilometers per hour:

What is speed?

Speed can be defined as the distance covered by an object per unit time. Also, it is usually measured in meter per seconds (m/s).

Conversion:

1 ft/s = 1.09728 km/hr.

156 ft/s = X km/hr.

Cross-multiplying , we have:

[tex]X=156 \times 1.09728[/tex]

X = 171.1757 km/hr.

Note:

1 feet = 12 inches.

156 feet = [tex]156 \times 12[/tex] = 1872 inches.

Next, we would convert this value to inches per minute:

156 ft/s = [tex]1872 \times 60[/tex] = 112,320inches per minute.

Therefore, the two (2) statements that are correct about this conversion are:

B) 156 ft/s = 112,320 in/min

E) 156ft 1s x 60s 1min x 12in 1 ft.

Read more on speed here: https://brainly.com/question/10545161

PLEASE HELP FAST!!!!!!!!!! i need asnwers quick

Answers

I think it would be like 1d but I’m not sure hope you have a good day

Answer:

Option A

The volume of prism is, [tex]180^{3}[/tex]

Step-by-step explanation:

From the given figure, we have

The length of the triangular prism is 6 units.

Since in the triangular cross-section we have the base (b) equals 5 units and the height (h) equals 12 units.

Using Volume of triangular prism formula: - A triangular prism whose length is l units, and whose triangular cross-section has base b units and height h units, then,

Volume(V) of the triangular prism in the cubic unit is given by;

[tex]V=\frac{1}{2}bhl[/tex]

Putting the values of [tex]l=6[/tex] unit, b=5 unit and h = 12 unit.

⇒  V = 1/2 × 5 × 6 × 12

on solving we get;

[tex]V=180^{3}[/tex]

therefore, the volume of the prism is [tex]180^{3}[/tex].

(brainliest would really help, thanks >:3)

Mangle XYZ is shown witch triangle must be similar to triangle XYZ

Answers

Answer:

A

Step-by-step explanation:

A triangle with two angels that mesure 40

Classify the triangle by its sides and angles.

Answers

Right isosceles triangle <3

Its a right triangle, and the two sides are equal so its isosceles

help worth 50 points

Answers

Answer:

it is an outlier !!!!!

Find the maximum value of y = -x^2 + 6x + 5​

Answers

the answer is C, you use the formula x=-b/2a

Answer:

D

Step-by-step explanation:

The maximum value is the y- coordinate of the vertex

Given a quadratic in standard form , y = ax² + bx + c ( a ≠ 0 )

Then the x- coordinate of the vertex is

x = - [tex]\frac{b}{2a}[/tex]

y = - x² + 6x + 5 ← is in standard form

with a = - 1 and b = 6 , then x- coordinate of vertex is

x = - [tex]\frac{6}{-2}[/tex] = 3

Substitute x = 3 into the function for y- coordinate of vertex

y = - 3² + 6(3) + 5 = - 9 + 18 + 5 = 14

maximum value is 14 → D

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