An investment of $1,000 earns an annual interest rate of 2%. How much more interest is earned in Year 5 with compound interest than with simple interest?

Answers

Answer 1

An additional interest of $ 4.08 is earned in year 5 by using compound interest and in comparison with simple interest method.

How to determine money gain by simple interest

Simple interest (C) is the amount of money gained and solely related to the initial capital ([tex]C_{o}[/tex]), in monetary units. The money earned by simple interest is determined by the following formula:

[tex]C = \frac{C_{o}\cdot r\cdot t}{100}[/tex]     (1)

Where:

r - Interest rate, in percentaget - Time, in years

Compound interest (C) takes into account the capital throughout time and its formula is presented below:

[tex]C = C_{o}\cdot \left[\left(1+\frac{r}{100} \right)^{t}-1\right][/tex]

Now we proceed to determine the simple and compound interest: ([tex]C_{o} = 1000[/tex], r = 2, t = 5)

Simple interest

C = [(1000) · (2) · (5)]/100

C = $ 100

Compound interest

C = (1000) · {[1+(2/100)]⁵-1}

C = $ 104.08

An additional interest of $ 4.08 is earned in year 5 by using compound interest and in comparison with simple interest method. [tex]\blacksquare[/tex]

To learn more on compound interest, we kindly invite to check this verified question: https://brainly.com/question/14295570


Related Questions

Suppose you are a
farmer and want to know if your corn crop is ready
to be harvested. Describe an unbiased way to
determine whether the crop is ready to harvest.

Answers

Answer:

if you track it's growth, you can see the progress.

Step-by-step explanation:

A company is going to make a storage container with sheet steel walls. The container will be in the shape of a rectangular prism, as shown below. If the sheet steel costs $20 for each square meter, how much will the sheet steel cost in total?

Answers

= $2080

I calculated for the area of each face of the prism…
I ended up with 10+10+12+12+30+30= 104
Meaning there is a total of 104m2 of steel sheet… for every 1m2 there is 20$ so 104 times 20 gives
2080. It costs 2080 $

Answer :-

The value of all the steel sheet is $2080

Solving steps:-

⇢ A=2(wl+hl+hw)

Where,

Length = 6mWidth or breath = 5mHeight = 2m

⇢ A = 2((5)(6)+(2)(6)+(2)(5))

⇢ A = 2(52)

⇢ A = 104

We multiply 104 by $20

⇢ 104 × 20

⇢ 2080

Therefore,the sheet steel will cost $2080 in total

Hopes this helps,

Have a wonderful day ,:-)

A quarterback completed 16% of his passes in a season. He completed 80 passes. How many passes did the quarterback throw?

Answers

Answer:

500

Step-by-step explanation:

100*80 is 8000, then divide it by 16

i need help with algebra homework please .

Answers

[tex]\cos 32^{\circ} = \dfrac{14.7}a\\\\\implies a=\dfrac{14.7}{\cos 32^{\circ}}\\\\\implies a=17.33[/tex]

Mrs. Galicia is creating a bunny farm. The farm starts with 820 bunnies and is growing at a rate of 20.75% per month. How many months will it take for the farm to triple in size? **Must solve using log/ln method**

Answers

The number of months it would take the bunny farm to triple in size is 5.3 months.

When would the bunny farm be triple its size?

The formula that can be used to determine the number of months it would take Mrs. Galicia's bunnies to triple in size is:

Number of years =  (In FV / PV) / r

FV = future population of the bunniesPV = present population of the bunniesr = rate of growthFV / PV = 3

IN(3) / 0.2075 = 5.3 months

To learn more about tripling time, please check: https://brainly.com/question/21841217

Find the area of a perfect polygon that has 99 sides and each side measures 31 inches

Answers

Answer:95139 units^2

Step-by-step explanation:

(31*31)*99 = 95139

So the answer should be 95139 units ^2

Select ALL that apply to the graph

the roots are 2 & 4
the X-intercepts aro (40) & (2.0)
the domain is all real numbers
the range is all real numbers
the range is y 39
the equation is linear
the equation is quadratic
the domain is 6X4

Answers

Answer:

a b c e g

Step-by-step explanation:

OPTION A

OPTION B

OPTION C

OPTION E

OPTION G

I hope it helped you

A fan with a resistance of 20 Ω is connected to a power supply. The current flowing through the circuit is 2.5 A.

What is the voltage of the power supply?

(1 point)

8.0 V
8.0 V

22.5 V
22.5 V

17.5 V
17.5 V

50.0 V

Answers

Answer: 50V

Step-by-step explanation:

Use Ohm's Law, which states that the voltage is proprtional to the current. The proprtionality constant is the resistance:

[tex]V=IR[/tex]

We are given the resistance in Ohms, and the current in Amps. Therefore:

[tex]V=(2.5)(20)=50V[/tex]

What is this for? I can't remember because I have a problem that is similar to this.

Answers

Answer:

There is no attachment to the question. You should be specific on what you mean by "this". Therefore, we can not solve the problem that is similar to another problem.

F(x)=2 to the power of x +3 what is the value of f(-2)

Answers

Answer:

2

Step-by-step explanation:

f(x) = 2^(x+3)      

f(-2) = put in -2 where x is

      = 2 ^(-2+3) = 2^1 = 2  

A beaver Burroughs 10 hole every five minutes how many holes will it burrow it time is increased to 25 minutes

Answers

Answer:

A beaver burrows 10 holes every 5 minutes. How many holes will it burrow if the time is increased to 25 minutes? Answer it will burrow 50 holes in 25 minutes

hope this helps

Step-by-step explanation:

Answer:

50 holes

Step-by-step explanation:

5 minutes = 10 holes

25/5 = 5

10 x 5 = 50

In the first week of Georgia's job, she earned $125.25 for working 15 hours. During her second week, she earned $167.00 for working
20 hours. How much does she earn in dollars for each hour she works?

Answers

Answer:

Georgia earns $8.35 per hour

Step-by-step explanation:

$125.25 / 15 hours = $8.35

$167.00 / 20 hours = $8.35

You can also find how much Georgia makes an hour by:

15 hours + 20 hours = $125.25 + $167.00

OR...

15x + 20x = $125.25 +$167.00

35x = $292.25

x = $292.25 / 35

x = $8.35 earned per hour

It took Fred 12 hours to travel over pack ice from one town in the arctic to another town 360 miles away. During the return journey, it took him 15 hours. Assume the pack ice was drifting at a constant rate, and that Fred’s snowmobile was traveling at a constant speed relative to the pack ice. What was the speed of Fred’s snowmobile?

Answers

Using the relation between velocity, distance and time, it is found that the speed of Fred’s snowmobile was of 27 miles per hour.

What is the relation between velocity, distance and time?


Velocity is distance divided by time, hence:

[tex]v = \frac{d}{t}[/tex]

It took Fred 12 hours to travel over pack ice from one town in the arctic to another town 360 miles away, when the ice was drifting in the same direction, hence:

[tex]v_i + v_s = \frac{360}{12}[/tex]

[tex]v_i + v_s = 30[/tex]

[tex]v_i = 30 - v_s[/tex]

In the return trip, with the ice in opposite direction he took 15 hours, hence:

[tex]v_s - v_i = \frac{360}{15}[/tex]

[tex]v_s - v_i = 24[/tex]

Since [tex]v_i = 30 - v_s[/tex]:

[tex]v_s - 30 + v_s = 24[/tex]

[tex]2v_s = 54[/tex]

[tex]v_s = 27[/tex]

The speed of Fred’s snowmobile was of 27 miles per hour.

More can be learned about the relation between velocity, distance and time at https://brainly.com/question/24316569

#SPJ1

Find the value of x. assume that segments that appear to be tangent are tangent.​

Answers

Answer:

9

Step-by-step explanation:

The explanation is in the picture

1. what are "odds for" stopping on a 2, 3, 7, 10?

2. What are the "odds against" stopping on a number less than 5.

NO LINKS!!

Answers

Answer:

1) 1/2, 2) 2

Step-by-step explanation:

#1Number of total outcomes is 12 (numbers 1 through 12)Favorable outcomes are 2, 3, 7, 10, total number is 4Unfavorable outcomes are the rest of numbers, total number is 8

The 'odds' is

Odds for (2, 3, 7, 10) = 4/8 = 1/2#2Number of total outcomes is 12 Number of favorable outcomes is 4 (numbers less than 5)Number of unfovorable outcomes is 8 (the rest of numbers)

The 'odds against' is

Odds against (< 5) = 8/4 = 2/1 or 2

Answer:

Question 1

"Odds for" - Number of successes : Number of failures

Number of success = 2, 3, 7 or 10

Number of failures = 1, 4, 5, 6, 8, 9, 11, 12

⇒ odds for stopping on 2, 3, 7 or 10 = 4/8 = 1/2

Question 2

"Odds against" - Number of failures : Number of successes

Number of success = 1, 2, 3, 4

Number of failures = 5, 6, 7, 8, 9, 10, 11, 12

⇒ odds against stopping on 1, 2, 3 or 4 = 8/4 = 2

need answer asap please and thank you

Answers

Step-by-step explanation:

this trapezoid has 3 parts

rectangle, 2 triangles

area of rectangle = 8.7*9.8 = 85.26 m^2

area of first right triangle = .5*b*h = .5*7.3*9.8 = 35.28 m^2

area of 2nd right triangle = .5*7.6*9.8 = 37.24 m^2

total area = 156.78 m^2

The U.S. flag has 7 red stripes and 6 white stripes. Check if each ratio of red stripes to total stripes is correct.
A. 7:6

B. 7/13

C. 13 to 7

D. 7 to 6

E. 7:13

F. 7/6

Answers

Answer:

B

Step-by-step explanation:

7 is the red stripes and if u add the white and the red which is 7 and 6 which equals 13 which means the answer is 7/13

cansomeone please help me with problem

Answers

Answer:

Disagree

Hope you have a nice day!

Answer:

Disagree and D

Step-by-step explanation:

you wouldn't add 24 as a number because it's a percent, so it can't be C.

Also, since its not C, and A and B are lower then 190, its D

Mario collects seashells and sells them to tourists. The function s(t) approximates how many seashells Mario collects per hour. The function W(h) represents the number of hours per week Mario spends collecting seashells. What are the units of measurement for the composite function s(W(h))? seashells over hour seashells over week hours over week weeks over seashell

Answers

Answer:

seashells/week

Explanation:

With the given the function s(h) being seashells per hour, and the function W(h) being the number of hours per week, we can say that the compostie function s(W(h)) is finding the number of seashells per week.


(I've also taken the test and this was the correct answer.)

Hope this helps! :)

The overhead reach distances of adult females are normally distributed with a mean of 202.5 cm and a standard deviation of 8.9 cm.
a. Find the probability that an individual distance is greater than 212.50 cm
b. Find the probability that the mean for 25 randomly selected distances is greater than 201.00 cm
c. Why can the normal distribution be used in part (b), even though the sample size does not exceed 30?
a. The probability is
(Round to four decimal places as needed)
b. The probability is I
(Round to four decimal places as needed.)
c. Choose the correct answer below.
O A The normal distribution can be used because the mean is large.
B. The normal distribution can be used because the finite population correction factor is small.
OC. The normal distribution can be used because the probability is less than 0.5
OD. The normal distribution can be used because the original population has a normal distribution

Answers

Answer:

I am not sure if you're accustomed to using a z-score and table of probabilities or technology, so I will answer using both!

a) Since you're choosing one person from the population, you will use the mean and standard deviation from the population.  z= (210.9-197.5)/8.6 = 1.56 Using a table of normal probabilities,

P(x>210.9)= 1-P(z<1.56)= 1- 0.9406=0.0594

Using technology: normalcdf(210.9, 1E99, 197.5, 8.6)=0.0596

b) Since you're calculating the population for a sample to occur, you need to get a mean of the sampling distribution and standard deviation of the sampling distribution.

Meanpop=Meansampling dist.=197.5

St. Devsampling dist.= Stdpopulation/√n = 8.6/√15 = 2.22

Using technology, P(X>196.20)= normalcdf( 196.20, 1E99, 197.5, 2.22) = 0.7209

c) You only have to worry about the sample size in a sampling distribution if you either do not know the shape of the distribution of the population or if the distribution of the population is not normally distributed. Since this population is normally distributed (as stated in the given information), then your sample size does not have to be greater than 30.

Step-by-step explanation:

Which shape has only one pair of parallel sides?

Answers

Answer:

The answer is C.

Step-by-step explanation:

This is because that shape only has the top and bottom lines which are parallel. The sides are not vertical and leaning outwards, which are not parallel. Leaving that shape to only have one pair of parallel sides.

Answer:

C.

Step-by-step explanation:

A & B both have 2 pairs of parallel lines, so they're not a choice. D has three sides, making it a triangle. Meaning it has no pairs of parallel lines. That leaves us with C. The reason why C is the answer is because, we can see that both top and bottom lines are parallel to each other. However, the left and right lines are not.

I hope this helped!

Kelly has made 16 out of 25 free throws. The probability that she will make her next free throw is 64% Is it experimental probability or theoretical probability?

Answers

Answer:

Her next throw will be theoretical, since the event has not happened yet.

Step-by-step explanation:

Set up a questions:
has it happened?
no? it's based off of past experiences? - theoretical
Yes? - experimental

Mr. Timberlake bought 7/9 cup of chocolate chip to
make cookies. He has used 2/3 cup of chocolate chips
To make the cookies. How many chocolate chips does he
have left?

Answers

Answer:

1/9 cup left

Step-by-step explanation:

7/9 - 2/3

Change to a common denominator.

7/9 - 6/9 = 1/9

I hope this helps and please mark me as brainliest!

Write an expression to represent the area of each figure

Answers

Answer:

A = 4x² + 3x - 1

Step-by-step explanation:

Area of trapezoid = (a + b)(h)/2

a = 5x - 4b = 3x + 2h = x + 1

A = [((5x - 4) + (3x + 2)) · (x + 1)] ÷ 2

A = [(8x - 2) · (x + 1)] ÷ 2

A = (8x² + 8x - 2x - 2) ÷ 2

A = 4x² + 4x - x - 1

A = 4x² + 3x - 1

Hope this helps and God bless!

To setup an equation for the area of the figure:

  ⇒ must know the formula for the area of a trapezoid

        [tex]\frac{1}{2}*(base1+base2)*height[/tex]

base 1 --> 5x - 4base 2 --> 3x + 2height --> x + 1

Now's lets set up the equation:        

[tex]Area =\frac{1}{2}(5x-4+3x+2)(x+1) =\frac{1}{2}(8x-2)(x+1)=\frac{1}{2}*(8x^2+8x-2x-2)\\Area = \frac{1}{2} *(8x^2+6x-2)\\Area = 4x^2+3x-1[/tex]

Thus the equation is [tex]4x^2+3x-1[/tex]

Answer: [tex]4x^2+3x-1[/tex]

Hope that helps!

Fiona is paid $11 an hour to work as a referee. The amount of money he earns depends on how many hours he works. Which is a dependent variable, and which is an independent variable?

Answers

Answer:

Number of hours worked = independent

Money earned = dependent

Step-by-step explanation:

         The money earned is dependent because "the amount of money he earns depends on how many hours he works." Since the money earned is dependent, the number of hours worked is independent.

         We can also think of it another way. You can pick how many hours you work (theoretically) so this is indepdent. The amount of money earned depends on the hours you worked.

Summary:

         Looking at the wording, we can answer the question with the following:

Number of hours worked = independent

Money earned = dependent

. If p = -5, q = 4, then find pq - (p + q).​

Answers

Answer:

-19

Step-by-step explanation:

Given :

p = -5

q = 4

Putting the value of p and q in equation pq - (p + q)

=> (-5)(4) - [(-5)+4]

=> -20 - [ -5+4 ]

=> -20 - [-1 ]

=> -20+1

=> -19

gabriel and ted went to an arcade where the machines took tokens. gabriel played 6 games of slee ball and 9 games of pinball using a total of 33 tokens. at the same time, ted played 4 games of slee ball and 9 games of pinball using up 31 tokens. how many tokens does each game require?

Answers

Answer:

9x + 5y = 29 ........... (1) and 3x + y = 7 ........... (2) Each game of ping pong ...

Missing: gabriel ‎ted ‎33

Step-by-step explanation:

Exploring Multiplication and Inequalities A 3-column table with 4 rows. Column 1 is labeled Inequality with entries 6 greater-than 4, negative 11 less-than negative 3, 7 greater-than negative 6, negative 5 less-than 1. Column 2 is labeled Multiply each side by: with entries 4, 2, 3, 5. Column 3 is labeled New Inequality with entries A, B, C, D. The table gives an inequality and a number to multiply both sides of the inequality by. Identify the new, true inequality. A: B: C: D: Multiplying both sides of an inequality by a positive number the inequality symbol.

Answers

Answer:

A

Step-by-step explanation:


The length from one point to another that is a portion of the curve of the circle is called:

Answers

Answer:

The length from one point to another that is a portion of the curve of the circle is called arc

Help please. Anyone good at math?

Answers

Answer:

m∠x = 47°

Step-by-step explanation:

The given shape is a triangle.

Sum of interior angles of the triangle is 180,

x + 102 + 31 = 180

x + 133 = 180

x = 180 - 133

m∠x = 47°

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