Joshua invested $750 in an account paying an interest rate of 3 frac{1}{4}3 4 1 % compounded quarterly. Josiah invested $750 in an account paying an interest rate of 2 frac{5}{8}2 8 5 % compounded annually. After 18 years, how much more money would Joshua have in his account than Josiah, to the nearest dollar?

Mathematics, 19.04.2021 16:10 kkeith121p6ujlt

Joshua invested $750 in an account paying an interest rate of 3\tfrac{1}{4}3 4 1 % compounded quarterly. Josiah invested $750 in an account paying an interest rate of 2\tfrac{5}{8}2 8 5 % compounded annually. After 18 years, how much more money would Joshua have in his account than Josiah, to the nearest dollar?

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Answer from: chriscendypierre56

Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.

Step-by-step explanation:

Giving the following information:

Joshua:

Initial investment (PV)= $750

Interest rate (i)= 0.0341/4= 0.008525

Number of periods (n)= 18*4= 72 quarters

Josiah:

Initial investment (PV)= $750

Interest rate (i)= 0.0285

Number of periods (n)= 18 years

To calculate the future value of each one, we need to use the following formula:

FV= PV*(1 + i)^n

Joshua:

FV= 750*(1.008525^72)

FV= $1,381.98

Josiah:

FV= 750*(1.0285^18)

FV= $1,169.74

Due to the difference in the interest rate and the quarterly compounding, Joshua will have $212.24 more than Josiah.

Answer from: Quest

javeir earned 56 dollors more than kyle so kyle and javier had 14w but javier made 56 dollors more so 14w plus 56 equals 70w so kyle has 14w

step-by-step explanation: hope i plz give me brainliest with the points so this is not constant cause it says last week so its clearly not every week

Answer from: Quest

1. sometimes

2. never

3 .08c = 7.50+.05c 250 pages

step-by-step explanation:

1. sometimes

the theoretical probability of rolling a 1 is 1/6. perhaps you got really lucky and never rolled a 1 in those 60 times. your experimental probability is 0. or perhaps you rolled a 1 20 times. your experimental probability is 20/60 is 1/3. it really just depends on how you rolled in that experiment.

2. never

the probability of the event occurring is 1. that is being 100 % sure it will happen. that is the maximum amount of confidence we have.

3. no customer card cost: .08 times number of pages

customer card cost: 7.50 + .05 times number of pages

we want to find when it costs the same amount, so we will set these equal

let c = number of pages

.08c = 7.50+.05c

subtract .05c from each side

.08c-.05c = 7.5+.05c-.05c

.03c=7.5

divide each side by .03

.03c/.03 = 7.5/03

c =250

the cost is the same at 250 pages

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