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

Question 1
5 pts
Samuel has 9 homework assignments due this week, and
he needs to finish 2 of them before his friend comes over
this afternoon. In how many orders can he pick out and
complete 2 of the assignments?
orders

Answers

Answer:

67

Step-by-step explanation:


Answer:


67

Step-by-step explanation

HELP ME PLEASE DO THE ONE I ASK THE QUESTION IS THERE WITH THE PIC OF THE SQUARE!!!!!!!!!!!!!!!


I really needed help ASAP​

Answers

Answer:

There is no no pic of a square

Step-by-step explanation:

Kallan’s goal is to run 39 miles in a week. He runs 7 miles on Monday. What percent of his goal did he run on Monday? Round your answer to the nearest percent.

Answers

3%

the percentage of 7 out of 39 is 2.73. If you round it is 3%

I hope this helps!

PLEASE ANSWER THE QUESTION IN THE IMAGEEEEE

Answers

Answer:

=1/2 (2) (1/3)

Step-by-step explanation:You have to find the size of the sides using the intersecting lines and then multiply L*W

Answer:

1/2 (2) 1/3

Step-by-step explanation:

trust me broo

does anybody know the answer??

Answers

no i don’t but i’d say the first one lol
Answer : C



Explanation: hwvhwkahwhskwo

Write the equation of the line that has a slope of -3/2 and passes through (4, -3)

Answers

Answer:

y = -3/2x + 3

Step-by-step explanation:

y = -3/2x + b

-3 = -3/2(4) + b

-3 = -6 + b

3 = b

7} = (4) -55) = 0
12
12
410
My Progress
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I NEED HELP ASAP

Answers

Answer:

-12

Step-by-step explanation:

need help please !!!!!!!!!!!!​

Answers

Answer:

160,000,000,000,000

Step-by-step explanation:

M= 200,000,000,000,000

P= $40,000,000,000,000

200,000,000,000,000 - 40,000,000,000,000=

160,000,000,000,000

All you have to do is do 10x10 14/13 times or cause it's 10 just add 14/13 zeros

Answer:

(2×10^14)/(4×10^13) = 5

Star M is 5 times farther from earth than Star P.

How much points do you need to pass your algebra 1 class?

Answers

you need to have a C or a 70% usually.

Answer:

You can have a D in your class to pass but if you have a F then you dont pass the class

Step-by-step explanation:

Which of the relations given by the following sets of ordered pairs is not a function?

HELPPPPP :((((( IF YOU SEND LINK I WILL REPORT YOU

Answers

Answer:

Hi, there your answer will be C.

Step-by-step explanation:

The reason why is because X(Input) can not be repeated the same

for example the coordiante( 1,3) and (1,4). See there are two ones which make them not function

Also, if you're having trouble with Functions and nonfunctions

REMEMBER THS

Function: X and y has to be separarte  and can't have the same X

NON-FUNCTION- WHEN X REPEATS ITSELF

Hope this helps :)

What is the volume of the cone to the nearest cubic millimeter? (Use ​π = 3.14)

A) 52 mm3
B) 157 mm3
C) 209 mm3
D) 628 mm3

Answers

Answer:

given:

height[h]=8mm

radius [r]=5mm

Now,

Volume of cone=1/3 πr²h=⅓×3.14×5²×8=209mm³

C) 209 mm³ is a required answer.

The volume of the dome is 209 mm3

giving 15 points cause i rlly need help
Bob had 1/3 of a pizza left over. He ate 2/3 of the leftovers for lunch. How much
pizza did he eat for lunch

Answers

2/9 of the pizza C: if bob has 1/3 of the pizza left and he eats 2/3, then you take 2/3 of 1/3, so you multiply.

Place the samples in order from the sample with the greatest variation to the sample with the least variation.
a sample of
20 women
a sample of
5 women
a sample of
45 women
a sample of
60 women

Answers

60 women because out come can vary more

Answer:

1. a sample of 60 women

2. a sample of 45 women

3. a sample of 20 women

4. a sample of 5 women

Step-by-step explanation:

Helppppppppppppppppppp

Answers

Answer:

[tex]x {2} + (y - 3) {2} = 9[/tex]

Step-by-step explanation:

By using the formula:-

[tex](x - h) {2} + (y - k) {2} = r {2}[/tex]

where, (h,k) is the center and r is the radius

-6=2(u+3)-5u pls help me with this

Answers

Answer:

u=3

Step-by-step explanation:

-6=2u+3-5u

-6=-3u+3

3u=6+3

3u=9

u=3


could somebody help me with

Answers

Answer:

t + 0.8 =1.5

Step-by-step explanation:

Our objective is to get to 1.5. we know that part of the distance is 0.8 but we don't know the other half (t).

PLEASE HELP ASAP!!! will mark brainlest!

Answers

Here are the coordinates, mark the ones on the left as x, and the ones on the right as y, but make sure they are lined up with each other: (-2, 11), (-1, 6), (0, 3), (1, 2), (2, 3), (3, 6). Then plot the points on the graph and connect them.

What are the solutions of 2x^2 + 7x = 4
½
4

-4
7
-7

Answers

I got -1/2 and -4 as the solutions.
explication;for a polynomial of the form ax 2 + b X + c, rewrite the middle term as a sum of two terms whose product is a c = 2 ⋅ - 4= -8 and whose sum is b = solution;

How do you calculate
√25+√16-√49 in BODMAS​

Answers

Answer:2

Solution:

[tex] \sqrt{25} = 5 \\ \sqrt{16 } = 4 \\ \sqrt{49} = 7[/tex]

5+4-7 = 9-7 = 2

Our Answer 2

Answer:

The answer is 2

Step-by-step explanation:

√25 = 5

√16 = 4

√49 = 7

Now,

√25 + √16 - √49

5 + 4 - 7

9 - 7 = 2

Thus, The answer is 2

-TheUnknownScientist

For this problem use 3.14 for , and any non-integer answers should be entered as decimals rounded to the hundredths place. Lannon is designing a carnival game for a school event. She has a large wooden square and she needs to cut out a circle from the middle. The circumference of the circle that she plans to cut out is 56.52 inches. What is the radius

Answers

Answer:

Step-by-step explanation:

For this problem use 3.14 for , and any non-integer answers should be entered as decimals rounded to the hundredths place. Lannon is designing a carnival game for a school event. She has a large wooden square and she needs to cut out a circle from the middle. The circumference of the circle that she plans to cut out is 56.52 inches. What is the radius

The formula for circumference of a circle = 2πr

Circumference = 56.52 inches

r = Circumference/2π

r = 56.52/2π

NEED HELP NOW. WILL GIVE BRAINLIEST

These prisms are similar. Find the surface
area of the larger prism in decimal form.
5 m
7 m
Surface Area = 90 m2
Surface Area = [? ] m2
Enter

Answers

Answer:

176.4

Step-by-step explanation:

1.) 7/5 = surface area/90 = (7/5)^2 = 49/25

2.) sa/90 = 49/25

3.) 4,410/25a

Surface area is 176.4

Hope this helps!

ASAP Right answer only please??!!!!

Answers

Answer:

The answer is 17 or x is 17

Jenna multiplied four numbers together and then divided by -2 the result was a positive value which of the following statements must be true 1 an odd number of factors were negative 2 none of the factors were negative 3 and even number of factors were negative 4 all of the factors were negative

Answers

Answer:

1. An odd number of factors were negative

Step-by-step explanation:

The first is true.

If an odd number of factors were negative, you have a negative result.

When you divide a negative by a negative you have a positive.

In this case when you divide the negative product by - 2 you have a positive.

Corresponding ______ are matching sides that are in the same position in two or more polygons.

Answers

Answer:

Corresponding sides are matching sides that are in the same position in two or more polygons .

I need sum help legit answers ONLY!!! also sho word pls IM GIVIN MAX PTS N BRANLIEST

Answers

Answer:

Ok so I see 34 as the dynamotor (I think that is how you spell it lol) and 27 as the height 3.14 as PIE would be for the radios divide 34 and you get 17 therefore 17 times 27 is 578 divide that by PIE aka * 3.14 you get 184 I believe this is correct.

Step-by-step explanation:

Trevor's mom bought 3 gallons of fruit juice at the store how many fluid ounces of fruit juice did Trevor‘s mom buy?

Answers

Answer: 384 fluid ounces

Step-by-step explanation:

First and foremost, when converting gallons to ounces, the conversion rate is:

1 gallon = 128 ounces

Therefore, since Trevor's mom bought 3 gallons of fruit juice, to convert it to to ounces, we have to multiply by 128. This will then be:

1 gallon = 128 ounces

3 gallons = 128 ounces × 3

= 384 fluid ounces of fruit juice.

Suppose that whether it rains tomorrow depends on past weather conditions only through the last 2 days. Specifically, suppose that if it has rained yesterday and today, then it will rain tomorrow with probability .8; if it rained yesterday but not today, then it will rain tomorrow with probability .3; if it rained today but not yesterday, then it will rain tomorrow with probability .4; and if it has not rained either yesterday or today, then it will rain tomorrow with probability .2. Over the long term, what proportion of days does it rain

Answers

Answer:

The answer is "0.425".

Step-by-step explanation:

The  T be a requirement today that such rains.

The Y be a situation yesterday that now it rained.

The O is a condition for tomorrow to rain.

[tex]P(O| (Y\ AND \ T)) = 0.8\\\\P(O|(Y \ AND \ NOT\ (T)) =0.3\\\\P( O|(NOT \ (Y)\ AND\ T)= 0.4\\\\P( O| NOT\ (Y) \ OR \ NOT \ (T)) =0.2[/tex]

There Arena and morrow overview To Aspects Which will rain:

[tex]Y\ AND \ T, Y \ AND \ NOT \ (T),\ NOT\ (Y) \ AND\ T, \ NOT(Y)\ OR \ NOT(T)[/tex]

Each has the option of [tex]\frac{1}{4}[/tex] INDEPENDENTLY happening.

Its possibility of tomorrow's rain is:

[tex]P(O) = P(O | Y\ AND\ T) P(Y\ AND\ T) + P(O|(Y \ AND \ NOT\ (T))[/tex]

       [tex]P((Y\ AND \ NOT\ (T)) + P(O|(\ NOT\ (Y) \ AND \ T))P(\ NOT\ (Y) \ AND\ T) \\\\+ P( O| \ NOT\ (Y)\ OR\ NOT\ (T)) P(\ NOT\ (Y)\ OR\ NOT\ (T))\\\\[/tex]

      [tex]=0.8\times \frac{1}{4} +0.3\times \frac{1}{4}+0.4\times \frac{1}{4}+0.2\times \frac{1}{4}\\\\ =\frac{1}{4}(0.8+0.3+0.4+0.2)\\\\= \frac{1.7}{4}\\\\= 0.425[/tex]

Cards in a pack are black or red in the ratio
black: red = 2:5
What fraction of the cards are red?

Answers

1/3 fraction of the cards is red

This should be the last question for the day...hopefully

Answers

I’d think it’s equated to the one, why I think that? Idek.

how long does it take to go 80 miles if u are going 80 miles perhour​

Answers

Answer:

1 hour

Step-by-step explanation:

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