Mathematics, 25.07.2021 01:20 heatherlemaster
Tom and Jerry make separate investments at the same time. Tom invests $2000 at an annual interest rate of 2% compounded continuously. Jerry invests $1800 at an annual rate of 2.5% compounded monthly.
a.) Who has the most money after 15 years? Clearly show all work to support your answer.
b.) How long will it take for Tom’s investment to triple in value?
Answers
Answer from: neyssa83
Step-by-step explanation:
TOM / 6.02 years
Tom: 2000(1.02)^15 = $2,691.74
Jerry: 1800(1.025)^15 = $2,606.94
TOM has more money after 15 years...
6000 = 2000(1.02)^t
3=(1.02)^t
ln(3) = t * ln(1.02)
t = ln(3)/ln(1.2)
t = 6.02 years
Answer from: Quest
step-by-step explanation:
subtract 7, so the answer is x < = 3, or c.
Answer from: Quest
the solution is 12x-6y
Other questions on the subject: Mathematics
Mathematics, 21.06.2019 16:30, sierrabuckner645
Which of the following is the correct ratio for converting kilograms to grams
Answers: 3
Mathematics, 21.06.2019 18:30, luvme68297
Which statement justifies why angle ebc measures 90?
Answers: 3
Mathematics, 21.06.2019 20:00, ashl3yisbored
The length of the line segment joining the midpoints of sides ab and bc of the parallelogram abcd is 10. find the length of diagnol ac
Answers: 3
You know the right answer?
Tom and Jerry make separate investments at the same time. Tom invests $2000 at an annual interest ra...
Questions in other subjects:
Mathematics, 20.11.2021 01:00
Medicine, 20.11.2021 01:00
Mathematics, 20.11.2021 01:00
