The balance of Albert is $2159.07; the balance of Marie is $2244.99, the balance of Hans is $2188.35, and the balance of Max is $2147.40. Marie is $10,000 richer at the end of the competition.
Compound interest is defined as interest paid on the original principal and the interest earned on the interest of the principal.
To determine the balance of Albert’s $2000 after 10 years :
If the amount of $1000 at 1.2 % compounded monthly,
A = P(1 +r/n)ⁿ n = 10 years
here P = $1000 and r = 1.2
A = 1000(1 + 0.001)¹²⁰
A = $1127.43
If Albert $500 losing 2%
So 0.98 × 500 = $490
If $500 compounded continuously at 0.8%
So A = P
A = 500
A = 541.6
So the balance of Albert’s $2000 after 10 years :
Total balance = 1127.43 + 490.00+ 541.64 = $2159.07
To determine the balance of Marie’s $2000 after 10 years:
If 1500 at 1.4 % compounded quarterly,
A = 1500(1 + 0.0035)⁴⁰ = $1724.99
If $500 Marie’s gaining 4 %
So 1.04 × 500 = $520.00
So the balance of Marie’s $2000 after 10 years
Total balance = 1724.99 + 520.00 = $2244.99
To determine the balance of Hans’ $2000 after 10 years:
If $2000 compounded continuously at 0.9%
So A = 2000
A = $2188.3
To determine the balance of Max’s $2000 after 10 years :
If $1000 decreasing exponentially at 0.5 % annually
So A = 1000(1 - 0.005)¹⁰= $951.11
If $1000 at 1.8 % compounded bi-annually
So A = 1000(1 + 0.009)²⁰ = $1196.29
So the balance of Max’s $2000 after 10 years
Total balance = 951.11 + 1196.29 = $2147.40
Therefore, Marie is $10,000 richer at the end of the competition.
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Answer:
Step-by-step explanation:
Albert:
$1000 earned 1.2% annual interest compounded monthly
= 1000 (1+.001)120
(periodic interest = .012/12 ,n is periods = 10yr x 12 mos)
$500 lost 2% over the course of the 10 years
= 500 (.98)
$500 grew compounded continuously at rate of 0.8% annually
= 500 e^008(10) 10 years interest .008 (in decimal form)
Add these three to see how Albert did with his investments
Answer:
Step-by-step explanation:
=
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Answer: They hike 30 miles and 20 miles in 1 hour respectively and they hike 60 miles and 40 miles in 2 hours respectively.
Step-by-step explanation:
Since we have given that
Number of mile Jeff hikes in every 15 minutes =
As we know that
1 hour = 60 minutes
So, number of mile Jeff hikes in every 1 hour =
number of miles Jeff hikes in every 2 hours =
Number of miles Lisa hikes in every 10 minutes =
Number of miles Lisa hikes in every 1 hour =
Number of miles Lisa hikes in every 2 hours =
Hence, they hike 30 miles and 20 miles in 1 hour respectively and they hike 60 miles and 40 miles in 2 hours respectively.
Answer:
No, a square is NOT the cross section of a rectangular and triangular prism.
Step-by-step explanation:
Prisms have a uniform cross-section and are named after their cross-section. Hence, the cross-section of a rectangular prism is a rectangle and the cross-section of a triangular prism is a triangle. The only prism with a square cross-section is a cube.