Bank A will pay 4.2%, compounded annually, on a savings account. Bank B, a competitor, offers monthly compounding on savings accounts. What is the minimum annual interest rate that Bank B needs to pay to make its annual yield exceed that of Bank A? Write an equation that can be solved to find the unknown rate. Use P for the principal, t for the time, and r for the unknown rate.

Q: Rajeev has $175 that he earned from his summer job. He puts the money in an account that yields 4%…

A:

Q: ys has a balance of $532 on his credit card. the account has a 19% annual interest rate , compounded…

A:

Q: Caroline wants to have $10,000 in 5 years after investing in an account that earns 7.3% compounded…

A:

Q: nicholas heard that he could triple his money in 27 years if he invested it in his friend's…

A: We can follow the step by step approach used in step 2 to get the required answer

Q: A $120,000 home mortgage for 35 years at 9.5% has a monthly payment of $985.93. Part of the monthly…

A: Given: A $120,000 home mortgage for 35 years at 9.5% has a monthly payment of $985.93. Part of the…

Q: Suppose that you borrow ​$11,000 for four years at 5​% toward the purchase of a car. Use…

A:

Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: The future dollars of an investment at the end of 8 years is $ 132,000. Its today’s dollars is $…

A: INTEREST PAID BY BANK AT THE END OF 8YEAR=$132000-$76825=$55175 REAL RSTE OF INTEREST OF…

Q: You have $7000 to invest for seven years. Which investment will provide the greater return:  5%…

A:

Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: Marcus buys a $1250 certificate of deposit (CD) that earns 6.6% interest that compounds monthly. How…

A: See the handwritten solution

Q: Nicole wants to save $4000 for a backpacking trip through Europe when she finishes college in 3…

A: Consider the given information.

Q: Bertha invests $10,000 for 8 years which results in an account balance of $24,759.63. What was her…

A: Given Bertha invested $10,000 for 8 years which resulted in an account balance of $24,759.63.

Q: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

A:

Q: When Jack started his job working for an idustrial manufacturing company, he contributed $680 at the…

A: According to the given information it is required to find how much money Jack would have at the end…

Q: Antonio invests $3,250, at 4% interest, compounded semiannually for 14 years. Use the compound…

A: We have given that rate of interest (r) = 4% per annum = 4%/2 = 2% semiannually  Number of times…

Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Percentage

A percentage is a number indicated as a fraction of 100. It is a dimensionless number often expressed using the symbol %.

Algebraic Expressions

In mathematics, an algebraic expression consists of constant(s), variable(s), and mathematical operators. It is made up of terms.

Numbers

Numbers are some measures used for counting. They can be compared one with another to know its position in the number line and determine which one is greater or lesser than the other.

Subtraction

Before we begin to understand the subtraction of algebraic expressions, we need to list out a few things that form the basis of algebra.

Addition

Before we begin to understand the addition of algebraic expressions, we need to list out a few things that form the basis of algebra.