Amber invest $1,000 for 10 years compounded daily. Jin invests $1,000 for 10 years compounded continuously. If both investments are made at 8% interest rates, determine each of the following. Amber has a total of $ after 10 years. Jin has a total of $ after 10 years. So earns $ more interest.​

Answers

Answer 1

Compound interest is the interest that is compounded daily, weekly, monthly, annually e.t.c on a loan, investment, or an amount of money kept in a financial institution.

Amber has a total of $2,225.35 after 10 years. Jin has a total of $ 2,225.54 after 10 years. So earns Jin $0.19 more interest.​

For Amber:

The formula to find the amount compounded daily after 10 years is:

A = P(1 + r/n)nt

Where

P = Principal ( Initial amount) = $1000

R = Interest rate = 8%

n = Number of times interest is compounded = Daily = 365 days

t = Time in years = 10 years

First, convert R as a percent to r as a decimal

r = R/100

r = 8/100

r = 0.08 rate per year,

Then solve the equation for A

A = P(1 + r/n)^nt

A = 1,000.00(1 + 0.08/365)^(365x10)

A = 1,000.00(1 + 0.000219178)^(3650)

A = $2,225.35

The interest for Amber is:

P (principal) = $1,000.00

A( Amount) = $2,225.35

I (interest) =  P - A

= $$2,225.35 - $1,000.00

= $1,225.35

For Jin

The formula to find the amount compounded continuously after 10 years is:

A = Pe^rt

Where

P = Principal ( Initial amount) = $1000

R = Interest rate = 8%

n = Number of times interest is compounded = Continuously

t = Time in years = 10 years

First, convert R as a percent to r as a decimal

r = R/100

r = 8/100

r = 0.08 rate per year,

Then solve the equation for A

A = Pe^rt

A = 1,000.00(2.71828)^(0.08)(10)

A = $2,225.54

The interest for Jin is:

P (principal) = $1,000.00

A( Amount) = $2,225.54

I (interest) =  P - A

= $$2,225.54 - $1,000.00

= $1,225.54

Comparing the interest for both Amber and Jin, we find the difference to know who earns more.

Jin's interest - Amber's interest

= $1,225.54 - $1,225.35

= $0.19

Jin earns more interest.

Therefore, Amber has a total of $2,225.35 after 10 years. Jin has a total of $ 2,225.54 after 10 years. So earns Jin $0.19 more interest.​

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

It is true that Pina's account reconciles.

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Ending balance from statement $1,139.78 Deposits outstanding  + $280.67 Total of checks outstanding  - $656.91 Revised statement balance  $ Balance from checkbook  $763.54

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Step-by-step explanation:

Lets say that P1=(6,4) and P2=(4,1) and that the form of the equation must be y=m*x+b where m is the slope and b the independent variable. Then having two given points we can use the slope formula to find the slope value as:

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Step-by-step explanation:

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Step-by-step explanation:

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What is same-side interior angles theorem.?

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Answer:

The answer will be listed below!

Step-by-step explanation:

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3,1. .........................

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Segment EF is twice as long as segment AB.
Segment CD is twice as long as segment FG.
The measure of angle HEF is twice the measure of angle DAB.
The length of segment EH is 16 units.
The area of EFGH is twice the area of ABCD.

Answers

Answer:

✔️Segment EF is twice as long as segment AB

✔️The length of segment EH is 16 units.

Step-by-step explanation:

Since quadrilateral ABCD is scaled to form quadrilateral EFGH, both are similar polygon.

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This implies that, all segments of quadrilateral ABCD increases proportionally times 2 to give us corresponding lengths of the segments of quadrilateral EFGH.

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Therefore, the following statements are true and correct:

✔️Segment EF is twice as long as segment AB

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✔️The length of segment EH is 16 units.

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Answer:

akposevictor

Genius

4.9K answers

8.4M people helped

Answer:

✔️Segment EF is twice as long as segment AB

✔️The length of segment EH is 16 units.

Step-by-step explanation:

Since quadrilateral ABCD is scaled to form quadrilateral EFGH, both are similar polygon.

Therefore: scale factor = ratio of any of their corresponding side

Scale factor = GH/CD = 12/6 = 2

This means quadrilateral EFGH is twice the size of quadrilateral ABCD.

The shape of the original polygon remains the same while the size increases.

This implies that, all segments of quadrilateral ABCD increases proportionally times 2 to give us corresponding lengths of the segments of quadrilateral EFGH.

Since shape remains the same, their corresponding angles are congruent and the same in measure.

Therefore, the following statements are true and correct:

✔️Segment EF is twice as long as segment AB

(EF = AB*scale factor = 3*2 = 6)

✔️The length of segment EH is 16 units.

(EH = AD*scale factor = 8*2 = 16)

shoutout to akposevictor he helped me get 100 so yea

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Answer:

1. 17.73 or 17 [tex]\frac{11}{15}[/tex] or [tex]\frac{266}{15}[/tex]

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Step-by-step explanation:

Each one is correct trust me ;)

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Step-by-step explanation:

Use binomial probability:

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n = 5, p = 0.156, and q = 0.844.

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r = 2, P = ₅C₂ (0.156)² (0.844)⁵⁻² = 0.146

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Answer:

Ten, 13290 Hundred, 13300 Thousand, 13000 Ten Thousand, 10000

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will mark brainliest, a THX, friend request, and will rate ur answer

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Step-by-step explanation:

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Answers

Answer:

The 5 in the tens place is 10 times greater than the 5 in the ones place

Step-by-step explanation:

You can do 5*10 witch would get you 50 and 50 is 10 times greater than 5.

Answer:

  it has 10 times the value

Step-by-step explanation:

5 in the tens place is worth 5 tens, or 50

5 in the ones place is worth 5 ones, or 5

50 is 10 times 5.

The 5 in the tens place has 10 times the value of the 5 in the ones place.

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