With a principal investment of $19,200, which account will have the greatest value after 5 years? simple interest: I = P • r • t interest compounded annually is A = P (1 + r)t interest compounded quarterly: A = P (1 + )4t A. 3.6% with interest compounded annually B. 3.8% in a simple interest account C. 3.4% with interest compounded annually D. 3.2% with interest compounded quarterly
Answers
Given: Principal: 19,200 term: 5 years
a) Interest compounded annually: A = 19,200 (1 + 0.036)^5 A = 19,200 (1.036)^5 A = 19,200 (1.1934) A = 22,913.28
b) Simple Interest I = 19,200 * 0.038 * 5 I = 3,648.38
19,200 + 3,648.38 = 22,848.38
c) Interest compounded annually A = 19,200 (1 + 0.034)^5 A = 19,200 (1.034)^5 A = 19,200 (1.182) A = 22,694.40
d) Interest compounded quarterly A = 19,200 (1 + 0.032/4)^4*5 A = 19,200 (1 + 0.008)^20 A = 19,200 (1.008)^20 A = 19,200 (1.173) A = 22,521.60
Write 24/52 in simplest form
Answers
6/13 or 0.4615384615
What number goes equally into the numerator and denominator equally? 24 divided by 4 -— 52 divided by 4