Mathematics

Yoselin

3 May, 09:17

A bank is offering a simple interest rate of 5% - that is, the bank will pay a fixed 5% of an initial investment as interest each year. By contrast, a stockbroker is offering a 4% interest rate compounded annually: 4% of the total value of the investment at the end of the year. If $1000 is invested in the bank and $1000 is invested with the stockbroker, after 4 years, what will be the total value of the two investments combined? Round to the nearest dollar.

+4

Answers (1)

Know the Answer?

Not Sure About the Answer?

Get an answer to your question ✅ “A bank is offering a simple interest rate of 5% - that is, the bank will pay a fixed 5% of an initial investment as interest each year. By ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.

Search for Other Answers

You Might be Interested in

What is the value of log 43? Use the calculator. Round your answer to the nearest tenth. 0.6 1.6 3.8 4.7

Tom wants new carpeting for his bedroom. His room is a 999 meters by 777 meters rectangle. How much carpeting does he need to buy to cover his entire bedroom floor?

Which is bigger 2/3 or 7/8

What is the correct name for a 9-sided polygon?

Express 0.1201201 in p/q form

New Questions in Mathematics

esse burns 365 calories during her yoga class. Round the number of calories to the nearest hundred and then estimate. About how many calories would Jesse burn after 6 yoga classes? A. 2,400 B. 1,800 C. 400 D. 240

Damon gave away 415 pieces of candy for Halloween and collected 84 pieces of candy while trick-or-treating. Which of the following is true? a. Damon had a net loss of 499 pieces of candy. b. Damon had a net gain of 499 pieces of candy. c.

Ursula's triangle has vertices at F (-7,-8), G (-6,-3), and H (5,6). If she translates her triangle 6 units down and 4 units to the left, what are its new vertices?

Kyle is training for a marathon. The equation y = 3x + 5.5 represents the number of miles Kyle can run over time, where y is the number of miles Kyle runs and x is the number of weeks Kyle has been training.

Which number completes the system of linear inequalities represented by the graph? y > = 2x - 2 and x + 4y > = ?