Anne is comparing savings accounts. One account has an interest rate of 1.2 percent compounded yearly, and one account has an interest rate of 1.2 percent compounded monthly. Which account will earn more money in interest?

Answers

Answer 1

in short and without much fuss

let's say Anne puts "x" amount in the account at 1.2% rate annually, that means after 1 year, she will have "x" + 1.2% of "x", or 1.012x to be exact.

the 1.2% rate, kicks in as the period of a year is met.

now, what if Anne puts it in the monthly compounded type? that means, the compounding period is a month, so after 1 month, she has 1.2% extra, or 1.012x, and after 2 months, she will have 1.2% extra of 1.012x, or 1.012144x, and after 3 months, she will have 1.2% extra of 1.0121x, or 1.012145728x and so on.

anyhow, the shorter the compounding period, the more the 1.2% kicks in, the more accumulation in the account.

Answer 2

Final answer:

An account with an interest rate of 1.2 percent compounded monthly will earn more money than one compounded yearly because of how compound interest works, earning 'interest on interest' throughout the year.

Explanation:

The student's question asks which savings account would earn more money, one with an interest rate of 1.2 percent compounded yearly, or one with the same interest rate but compounded monthly. When interest is compounded, it means the bank pays interest on both the original amount of money and any interest that account has already earned. With compounded interest, you end up earning interest on interest.

For the account with yearly compounding at a rate of 1.2 percent, the formula to calculate the amount after one year would be A = P(1 + r/n)^(nt), where P is the principal amount, r is the annual interest rate (decimal), n is the number of times interest is compounded per year, and t is the time in years. In this case, n is 1 because the interest is compounded annually. Therefore, the amount after one year would be A = P(1 + 0.012/1)^(1×1) or A = P(1.012).

For the monthly compounded account, the same formula applies, but n would be 12 because the interest is compounded monthly. So, the amount after one year would be A = P(1 + 0.012/12)^(12×1).

When you perform these calculations, the account with the monthly compounding will yield a slightly higher amount than the annually compounded account because interest is being added more frequently. Each month's interest is then earning interest in the following months, leading to a process known as 'interest on interest'. Though the difference may not be substantial for small amounts and low interest rates, over longer periods, or with higher rates and balances, the difference can become significant.

Related Questions

Stuck on this question. Any help would be appreciated.

Answers

Solving the 2nd equation for r results in
10-2h
r = --------------
5
(10-2h)^2
Then r^2 = ----------------
25

Substitute this r and this r^2 into the first equation and simplify. This will result in a formula for V as a function of h (V in terms of h).

The ordered pair (2, 1) is a solution of a direct variation equation. Write the equation and identify the constant of variation.

Answers

A direct variation equation takes the form "b = ka," where the k is the constant of variation. In this case, 1 (b) is one-half as large as 2 (a), so the constant will be 0.5. This would allow the equation to be written as "b = 0.5a," and the constant of variation in this equation is 0.5.

Simplify 3 + c (8n + 4) + 9n

A. 49n + 20
B. 3+33n
C. 25n + 11
D. 19n + 7

Answers

c is the answer to your question

Well first you need to distribute the (c) to the 8n+4. So then you you would get 8nc+4c+9n+3. Not unless that (c) is suppose to be a number.

The table shows the steps for solving the given inequality for x.

−3(4−6x)
Select the reason for each step from the drop-down menus.

Answers

step        justification

- 3 (4 - 6x) < x + 5

- 12 + 18x < x + 5                 distributive property (to solve the left side)

-12 + 17x < 5                        subtraction property of equality (to transpose x
                                             from right to left side)

                                              subtraction of like terms (18x - x = 17x)

17x < 17                                addition property of equality (to tranpose - 12
                                              from left to right side)

                                              addition of like terms (12 + 5 =17)

x < 1                                  division property of equality

Answer:step justification

- 3 (4 - 6x) < x + 5

- 12 + 18x < x + 5 distributive property (to solve the left side)

-12 + 17x < 5 subtraction property of equality (to transpose x

from right to left side)

subtraction of like terms (18x - x = 17x)

17x < 17 addition property of equality (to tranpose - 12

from left to right side)

addition of like terms (12 + 5 =17)

x < 1 division property of equality

Step-by-step explanation:

Can someone please solve this?

Answers

multiplicity of a root means, is there that many times.

[tex]\bf \begin{cases} x=3\implies &x-3=0\\ x=2\implies &\begin{cases} x-2=0\\ x-2=0\\ x-2=0 \end{cases} \end{cases} \\\\\\ (x-3)(x-2)~~(x-2)(x-2)=\textit{original polynomial} \\\\\\ (x^2-5x+6)~~(x^2-4x+4)=y \\\\\\ x^4-4x^3+4x^2-5x^3+20x^2-20x+6x^2-24x+24=y \\\\\\ 1x^4-9x^3+30x^2-44x+24=y[/tex]

Y=2x^2-x-10 write in intercept form

Answers

y-intercept: Let x = 0 and solve for y. Then y =2(0)^2 -(0) - 10 = -10. The y-intercept is (0,-1).

x-intercept: Let y = 0 and solve for x.
Then 0 = 2x^2 - x - 10. a=2, b= -1 and c = -10.
-(-1) plus or minus sqrt[ (-1)^2 - 4(2)(-10)
Then x = ------------------------------------------------------------
2(2)
1 plus or minus sqrt(81) 1 plus or minus 9
x = ----------------------------------- = ---------------------------
4 4

Calculate the 2 x-values. Let's call them "a" and "b." Then the x-intercepts (there are 2) are

(a, 0) and (b, 0)

I don't get why price(max)=$80
Can someone help me

Answers

check the picture below.

as a matter of elasticity, if you sell 100 popsicles for $1, you get a revenue of $100.

However, if your price goes to $5 per popsicle, then folks will begin to find it too expensive and won't be buying 100, but just 15, so, even though $5 is a higher price, 5 * 15 is a much smaller revenue than 1 * 100.

Complete the sentence using one of the words below in 10/6 the 10 is the

Answers

The 10 Is The Numerator

At a dog park there are 12 golden retriever and 20 poodles what is the ratio of golden retriever to poodles

Answers

You need to find a number that 12 and 20 share so you go through all the number starting with 1 and go until you can find one so I'll use the numbers 2 and 4. Gives you two options.
12/2=6
20/2=10
6:10

12/4=3
20/4=5
3:5

Here again is the information about the prescription drug: there is a 10% chance of experiencing a sore throat (s) and a 30% chance of experiencing a fever (f). the information also states that there is a 6% chance of experiencing both side effects. what is the probability of experiencing neither of the side effects?

Answers

youve got a 94% chance of not experiencing it but a 90% chance of not experiencing a sore throat and a 70% cahnce of not experiencing a fever

Shelly sells 5 bone shaped treats for $3.50 how much should she charge to a pack of 12 treats which proportion is needed to solve the problem

Answers

Hola en ese caso se realiza una regla de tres.
si shelly cobra 5 golosinas por 3.50 dolares, 12 golosinas a cuanto equivaldran.

(12x3.50)/ 5 = 8.4 dolares deberia cobrar

Answer

5/3.5and 12/x or d

how many square inches does an "11x13" area encompass

Answers

143 square inches

Answer:

143 square inches

Step-by-step explanation:

The area of encompass is given by 11 * 13 inches.

Here the length = 11 inches and the width = 13 inches.

The length and width have different numbers, so the given figure is a rectangle.

Area of a rectangle = length * width

Area of the figure = 11*13

= 143 square inches

The unit for the area is "square"

The units are given in inches, therefore, it is 143 square inches.

How many times dose 63 go into 272? THANK YOU SO MUCH FOR ANSWERING,IF YOU DID!!!!!!!

Answers

Let's write this problem as an expression: 272 ÷ 63
Now, it is just division, and we can divide the two numbers to get 4.317...
However, the question only asks for how many times 63 goes into 272, so the answer would be that 63 goes into 272 four times. Hope this helps and have an awesome day!

Two pounds of bananas cost $1.16 what would be the cost of 5pounds s of bananas

Answers

If 2 lb of bananas cost $1.16, then each pound costs $0.58.

0.58 * 5 = 2.9

So 5 lb of bananas will cost $2.90.

Hope this helps!

The cost of 5 lbs of bananas would be $2.90.

In a football game, the home team gained 8 yards in a running play. After that, the quarterback was sacked for a loss of 8 yards. On the next play, the quarterback threw a 25-yard pass for a touchdown. What was the final yardage gain on the play? Justify your answer.

Answers

25 yards because he gained 8 then lost 8

Write the equation for the following relation. Include all of your work in your final answer. Submit your solution. P = {(x, y): (1, 0), (2, 4), (3, 8), (4, 12), . . .}

Answers

First, we will notice that while the value of x increases by 1, the corresponding value of y increases by 4. This means that this is a linear relation.

The general equation for linear equations is : y = mx + c where m is the slope and c is the y-intercept

To get the slope, we will need to use two points. Let's take the first and the last points: (1,0) and (4,12)
The slope is calculated as: (y2-y1) / (x2-x1)
Use the chosen points to substitute in the equation and get the slope as follows:
m = (12-0) / (4-1) = 12/3 = 4

Now, the equation of the line became: y = 4x + c

The given points all satisfy the equation of the line, we can use any of them to substitute in the equation and get the value of c.
For instance, I will use the first point: (1,0)
y = 4x + c
0 = 4(1) + c
c = -4

The equation of the line is:
y = 4x - 4

what's the closest number to 27.8 * 9.8

Answers

280...round each number to the nearest whole number (27.8=28 and 9.8=10) then multiply and you will get 280

27.8 * 9.8 = 272.44

Closest whole number = 272.

Sampling is ordinarily used when the number of items comprising the population is relatively small.

Answers

I believe this statement is false, and that sampling is used when the number of items in a population are fairly large. One would use a sample to represent some form of measurement or test so that it can be applied to the larger number of same objects.

Jennifer's grandmother buys carrots at the farm stand. She and her 3 grandchildren equally share the carrots. The total weight of the carrots she bought is 28 kilograms. How many kilograms of carrots will Jennifer get ?

Answers

since they share it equally
28/4=7

There are 62 rows of 9 chairs about how many chairs are there???

Answers

Final answer:

There are 558 chairs in total.

Explanation:

To find the total number of chairs, you need to multiply the number of rows by the number of chairs in each row. In this case, there are 62 rows and 9 chairs in each row. So, the total number of chairs would be 62 x 9 = 558.

State the slope and the y-intercept of each given graph plz help i really dont know how to do this

Answers

For graph 1, the y-intercept is (0,1) and the slope is 1.
For graph 2, the y-intercept is (0,4) and the slope is -1.
For graph 3, the y-intercept is (0,-4) and the slope is -2.
For graph 4, the y-intercept is (0,-3) and the slope is 3/2.
For graph 5, the y-intercept is (0,4) and the slope is 2.
For graph 6, the y-intercept is (0,3) and the slope is -3/2.

(By the way, since the graphs aren't labeled as numbers, I went from left to right, and then down, and then left to right again).

Now, here's the explanation:

Solving for y-intercept is easier than it sounds. All you need to do is mark the point where the line crosses the y-axis (vertical axis).

Solving for slope is just rise/run. For example, in graph one, the points on the line went up one and then to the right one.

So, 1/1 = 1.

When a slope moves down or to the left, it will be negative. However, that's only if the rise OR run is down/left. If both are negative, the two will cancel each other out to make a positive.

Hope this helped!!

A map of a public park shows a circular pond. There is a bridge along a diameter of the pond that is 0.25 mi long. You walk across the bridge, while your friend walks halfway around the pond to meet you at the other side of the bridge. How much farther does your friend walk?

Answers

The circumference of a circle is pi times diameter, so half-way around the pond is (1/2)pi times diameter.

[tex]\frac{\pi}{2} = 1.57[/tex]

The difference between walking around the pond and walking across the bridge is: 1.57d - d = 0.57d

Plug in diameter of 0.25

0.25*0.57 = 0.14 miles

Final answer:

Your friend walks approximately 0.3925 miles farther than you along the curved path of the pond.

Explanation:

To find out how much farther your friend walks, we need to compare the distance along the bridge to the distance halfway around the pond. The bridge is a straight line across the pond, which is the same as the diameter of the pond. The diameter is 0.25 miles long. Your friend walks halfway around the pond, which is equivalent to walking half the circumference of the pond. The formula for the circumference of a circle is C = 2πr, where C is the circumference and r is the radius. Since the bridge is the diameter, it is equal to 2 times the radius, or 2r. So the distance your friend walks is half the circumference or (1/2)(2πr) = πr. Since the diameter is 0.25 miles, the radius is half of that, or 0.125 miles. Plugging this into the formula, we find that your friend walks π(0.125) miles. To find a numerical approximation, we can use the fact that π is approximately 3.14, so your friend walks 3.14(0.125) miles. This simplifies to approximately 0.3925 miles. Therefore, your friend walks approximately 0.3925 miles farther than you along the curved path of the pond.

A new iPhone user receives an average of 4.2 phone calls per hour. The calls occur randomly in time so if X = the number of calls received in an hour, then we can assume that X has a Poisson distribution with parameter λ = 4.2. Let Y = the number of phone calls received in a day. Assume all necessary independence in the following.
a. Y also has a Poisson distribution. What is the λ for Y?

b. What is the standard deviation of X?

c. What is the standard deviation of Y?

d. What is the probability that no calls are received in an hour?

e. What is the probability that more than 120 calls are received in a day?

f. What is the probability that Y is between 90 and 110 inclusive? (i.e. 90 ≤ Y≤110)

g. What is the variance of square root of 2Y?

h. Assume this distribution holds for all hours and days and that one call is independent from another. What is the probability that 120 or fewer calls are received for every day of this week? (Assume appropriate independence

Add any comments below.

Answers

Part A:

Given that Y is the number of phone calls received in a day and that a new iPhone user receives an average of 4.2 phone calls per hour.

Thus, the average number of phone calls received in a day is 4.2 * 24 = 100.8

Therefore, the λ for Y is 100.8

Part B:

The standard deviation of a Poisson distribution is given by

[tex]\sigma=\sqrt{\lambda}[/tex]

Thus, the standard deviation of X is given by

[tex]\sigma=\sqrt{4.2}=2.05[/tex]

Therefore, the standard deviation of X is 2.05.

Part C:

The standard deviation of Y is given by

[tex]\sigma=\sqrt{100.8}=10.04[/tex]

Therefore, the standard deviation of X is 10.04.

Part D:

The probability of a Poisson distribution is given by

[tex]P(X=x)=e^{-\lambda} \frac{\lambda^x}{x!} [/tex]

where, x is the number of occurence of the event in the given period.

Thus, the probability that no calls are received in an hour is given by

[tex]P(X=0)=e^{-4.2} \frac{(4.2)^0}{0!} =0.015[/tex]

Therefore, the probability that no calls are received in an hour is 0.015

Part E:

We approximate the Poisson distribution using Normal distribution by noting that for a Poisson distribution

[tex]\mu=\lambda \\ \\ \sigma^2=\lambda \\ \\ \sigma=\sqrt{\lambda}[/tex]

The probability of a normal distribution is given by

[tex]P(X\ \textless \ x)=P\left(z\ \textless \ \frac{x-\mu}{\sigma} \right)[/tex]

Thus, the probability that more than 120 calls are received in a day is given by

[tex]P(X\ \textgreater \ 120)=1-P(X\leq120) \\ \\ =1-P\left(z\leq \frac{120-100.8}{10.04} \right)=1-P(z\leq1.912) \\ \\ =1-0.97208=0.0279[/tex]

Therefore, the probability that more than 120 calls are received in a day is 0.0279

Part F:

We also approximate this using Normal distribution

The probability of a normal distribution between two value (a, b) is given by

[tex]P(a\ \textless \ X\ \textless \ b)=P\left(z\ \textless \ \frac{b-\mu}{\sigma} \right)-P\left(z\ \textless \ \frac{a-\mu}{\sigma} \right)[/tex]

Thus, the probability that Y is between 90 and 110 inclusive is given by

[tex]P(90\leq X\leq 110)=P\left(z\leq \ \frac{110-100.8}{10.04} \right)-P\left(z\leq \frac{90-100.8}{10.04} \right) \\ \\ =P(z\leq0.916)-P(-1.076)=0.82025-0.14103=0.67922[/tex]

Therefore, the probability that Y is between 90 and 110 is 0.67922

Part G:

The variance of aY is given by

[tex]Var(aY)=a^2Var(Y)[/tex]

Thus, the variance of [tex] \sqrt{2} Y[/tex] is given by

[tex]Var( \sqrt{2} Y)=( \sqrt{2} )^2Var(Y)=2(100.8)=201.6[/tex]

Therefore, the variance of [tex] \sqrt{2} Y[/tex] is 201.6

Part H:

We approximate this using Normal distribution

The probability of a normal distribution is given by

[tex]P(X\ \textless \ x)=P\left(z\ \textless \ \frac{x-\mu}{\sigma} \right)[/tex]

Thus, the probability that 120 or fewer calls are received in a day is given by

[tex]P(X\leq120)=P\left(z\leq \frac{120-100.8}{10.04} \right) \\ \\ =P(z\leq1.912)=0.97208[/tex]

Since, this distribution holds for all hours and days and one call is independent from another. Assuming that there are seven days in a week.

The probability that 120 or fewer calls are received for every day of this week is given by

[tex](0.97208)^7=0.8202[/tex]

Therefore, the probability that 120 or fewer calls are received for every day of this week is 0.8202

tep 1: –10 + 8x < 6x – 4 Step 2: –10 < –2x – 4 Step 3: –6 < –2x Step 4: ________

Answers

Step 4: 3>x. (The sign flips because you divided a negative)
I hope this helps love! :)

Which expression makes the equation true? X^8 = ( )^2

Answers

x^8 = ()^2

x^8 = (x^4)^2

x^8 = x^8

inside the parethesis is x^4

hope this helps

(a^m)^n = a^(mn)

x^8 = (x^4)^2 = x^(4 * 2) = x^8

Answer: (x^4)^2

Use addition to simplify the expression 6/x+6/3x . show all the steps necessary to write the expression with a common denominator and to simplify the expression

Answers

Common Denominator is 3x

we write 6/x as 18/3x So we have

18/3x + 6 /3x = 24/3x

simplifyiby dividing numerator and denominator by 3:-

Answer is 8/x

Integers contain the whole numbers.true or false

Answers

True, Integers mean "whole", and it cannot be a fraction or decimal

hope this helps

true , hope this helps :)

Suppose △DEF≅△MNO.
Which congruency statement is true?

A) DF≅NO
B) DE≅MN
C) EF≅MN
D) EF≅MO

Answers

the answer is b. would u like to see steps or are you good?

Final answer:

When triangles are congruent, their corresponding sides and angles are the same. Hence in congruent triangles △DEF and △MNO, side DF is congruent to side MN, thus option B) DE≅MN is the correct answer.

Explanation:

In the case of congruent triangles, the corresponding sides and angles are essentially the same. Therefore, we must match up the corresponding sides. A correct statement would be that side DF, from the first triangle, is congruent to side MN, from the second triangle. Hence the correct option is B) DE≅MN.

Additionally, DE would be congruent to MN, and EF would be congruent to NO, completing the congruence between triangles △DEF and △MNO.

Learn more about Congruent Triangles here:

https://brainly.com/question/22062407

#SPJ2

the sum of 2 3/5 + (-1/5) write in simplest form

Answers

The answer is 2 2/5. Need an explanation

2 2/5 that’s the answer

Plot the x- and y-intercepts to graph the equation. y=−12x−3

Answers

x-intercept: (1/4) ,0
y-intercept: (0, -3)

Keywords

x-intercept, y-intercept, linear equation, graphing tool

we know that

The y-intercept is the value of y when the value of x is equal to zero

The x-intercept is the value of x when the value of y is equal to zero

In this problem we have

[tex]y=-12x-3[/tex]

Step 1

Find the x-intercept

For [tex]y=0[/tex]

find the value of x

[tex]0=-12x-3[/tex]

[tex]12x=-3[/tex]

[tex]x=-0.25[/tex]

The x-intercept is the point [tex](-0.25,0)[/tex]

Step 2

Find the y-intercept

For [tex]x=0[/tex]

find the value of y

[tex]y=-12*0-3[/tex]

[tex]y=-3[/tex]

The y-intercept is the point [tex](0,-3)[/tex]

Step 3

With the point [tex](-0.25,0)[/tex] and the point [tex](0,-3)[/tex]

Plot the linear equation

Using a graphing tool

see the attached figure

therefore

the answer in the attached figure

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