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anaalashay
06.10.2020 •
Mathematics
Describe the transformations to f(x): -2f(x - 3) + 8
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Ответ:
Brooklyn will have more money after two years
She'll have 13 more dollars compared to Patrick.
Explanation:
We'll be using this compound interest formula
A = P*(1+r/n)^(n*t)
The variables are:
A = final amount at time tP = initial amount, aka deposit or principalr = decimal form of the annual interest raten = number of times we compound the money per yeart = number of yearsPatrick has the following values:
P = 300r = 0.03n = 4t = 2which leads to...
A = P*(1+r/n)^(n*t)
A = 300*(1+0.03/4)^(4*2)
A = 318.479654345482
A = 318.48
Patrick will have $318.48 in his account after 2 years.
For Brooklyn, she has:
P = 300r = 0.05n = 12t = 2Those values then plug into the formula to get...
A = P*(1+r/n)^(n*t)
A = 300*(1+0.05/12)^(12*2)
A = 331.482400667499
A = 331.48
Brooklyn will have $331.48 in her account after 2 years.
We can see that Brooklyn earns more compared to Patrick.
She has $331.48 - $318.48 = 13 more dollars compared to Patrick.
This is to be expected for two reasons:
Her annual interest rate is higher (5% compared to 3%)The money in her account is compounded more frequently (12 times per year compared to 4 times per year)