Bentley invested $750 in an account paying an interest rate of 1 1/4


% compounded daily. Julia invested $750 in an account paying an interest rate of 1 3/4% compounded quarterly. After 20 years, how much more money would Julia have in her account than Bentley, to the nearest dollar?

Answers

Answer 1

After 20 years, Julia would have approximately $155 more in her account than Bentley.

To calculate the final amount for each investment, we use the formula for compound interest:

Final Amount = Principal * (1 + (Interest Rate / Number of Compounding Periods))^(Number of Compounding Periods * Number of Years)

For Bentley's investment:

Principal = $750

Interest Rate = 1 1/4% = 1.25%

Number of Compounding Periods = 365 (compounded daily)

Number of Years = 20

Calculating the final amount for Bentley's investment:

Final Amount (Bentley) = $750 * (1 + (1.25% / 365))^(365 * 20)

For Julia's investment:

Principal = $750

Interest Rate = 1 3/4% = 1.75%

Number of Compounding Periods = 4 (compounded quarterly)

Number of Years = 20

Calculating the final amount for Julia's investment:

Final Amount (Julia) = $750 * (1 + (1.75% / 4))^(4 * 20)

Subtracting Bentley's final amount from Julia's final amount:

Difference = Final Amount (Julia) - Final Amount (Bentley)

After performing the calculations, we find that the difference is approximately $155.

Therefore, after 20 years, Julia would have approximately $155 more in her account than Bentley, rounded to the nearest dollar.

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Answer 2

Julia would have $757.96 more in her account than Bentley after 20 years (rounded to the nearest dollar).

Given, Bentley invested $750 in an account paying an interest rate of 1 1/4% compounded daily.

Julia invested $750 in an account paying an interest rate of 1 3/4% compounded quarterly.Both Bentley and Julia invested $750 each but the interest rates are different.

Bentley's account pays an interest rate of 1 1/4% compounded daily and Julia's account pays an interest rate of 1 3/4% compounded quarterly.

Now, Let's calculate the amount in Bentley's account first. The amount is given by the formula below,

Amount = P(1 + (r / n))^(nt),

where P is the principal amount, r is the annual interest rate, t is the time the money is invested for, n is the number of times that interest is compounded per year, and A is the amount at the end of the investment.

Here, we are given, P = $750, r = 1.25%

= 1.25 / 100

= 0.0125 (as the rate is in percentage we need to convert it into decimal), n = 365 (compounded daily), t = 20 years

Amount = 750(1 + (0.0125 / 365))^(365 × 20)

Amount = 750(1 + 0.000034)^(7300)

Amount = 750 × 1.2774

Amount = $957.64

Therefore, Bentley will have $957.64 in his account after 20 years.

Now, let's calculate the amount in Julia's account.

The amount is given by the formula below, Amount = P(1 + (r / n))^(nt),

where P is the principal amount, r is the annual interest rate, t is the time the money is invested for, n is the number of times that interest is compounded per year, and A is the amount at the end of the investment.

Here, we are given, P = $750, r = 1.75%

= 1.75 / 100

= 0.0175 (as the rate is in percentage we need to convert it into decimal), n = 4 (compounded quarterly), t = 20 years

Amount = 750(1 + (0.0175 / 4))^(4 × 20)

Amount = 750(1 + 0.004375)^(80)

Amount = 750 × 2.2781

Amount = $1715.60

Therefore, Julia will have $1715.60 in her account after 20 years.Now, to find out how much more money Julia would have in her account than Bentley, we need to subtract the amount in Bentley's account from the amount in Julia's account.

Difference = Julia's amount - Bentley's amount

Difference = $1715.60 - $957.64

Difference = $757.96

Therefore, Julia would have $757.96 more in her account than Bentley after 20 years (rounded to the nearest dollar).

Hence, the required answer is $757.

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Answers

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====================================================

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Answer:

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Step-by-step explanation:

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Answers

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Answer:

Step-by-step explanation:

b

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Answers

Answer:

425 monkeys

Step-by-step explanation:

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Step-by-step explanation:

let marianne friend age be x and

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Answers

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Step-by-step explanation:

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Answers

Answer:

1. y = 11

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Step-by-step explanation:

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Answers

Answer:

≈ 0.8 m²

Step-by-step explanation:

________________________________________________

FORMULA FOR FINDING AREA OF SEGMENT :-

[tex]A = r^{2} [\frac{\alpha }{360} \times \pi - (\sin \frac{\alpha }{2} \times \cos \frac{\alpha }{2} )][/tex]

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________________________________________________

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[tex]3^{2} [ \frac{60}{360} \times \pi - (\sin \frac{60}{2} \times \cos \frac{60}{2})][/tex]

[tex]= 9[\frac{1}{6} \times \pi - (\sin 30 \times \cos 30)][/tex]

[tex]= 9[\frac{\pi }{6} - (\frac{1}{2} \times \frac{\sqrt{3} }{2} )][/tex]

[tex]= 9[\frac{\pi }{6} - \frac{\sqrt{3} }{4} ][/tex]

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[tex]= 0.8175[/tex]

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y= 2/3x+7
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Answer:

the slope will be

2

3

and the

y

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7

.

Step-by-step explanation:

Keith has $500 in a savings account at the beginning of the summer. He wants to have at least $200 in the account by the end of the summer. He withdraws $35 each week for food, clothes and movie tickets. How many weeks can Keith withdraw money from his account?

Answers

8 weeks is the correct answer500 - 200 = 3008 x 35 = 280$280 is the closest you can get to $300 without going over.So, 8 weeks is the answer.Please let me know if I am wrong.

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Answers

7*(x - 10) = 70
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