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

Find the volume of a cylinder with a diameter of 8 inches and a height that is three times radius

It takes 28 minutes for 7 people to paint 7 walls. How many minutes is it take 14 people to paint 14 walls

Given a ∆ with exterior angles (55x) °, (40x) °, (85x) ° a. Find the measure of the largest exterior angle. b. Find the measure of the smallest interior angle.

Wholesale price is 37.50 sold for 50. what is amount of markup

how many gallons each of 25% alcohol and 5% alcohol should be mixed to ontain 20 gal of 24% alcohol?

New Questions in Mathematics

Out of the last 50 guest, only 1 of them brought a coupon for free admission to the carnival. If there are 1500 guests expected this weekend, how many can we except will receive free admission

If f (x) = - x + 4 and g (x) = x^2 - 5, then g (f (3)) = ? A) - 8 B) - 4 C) - 3 D) 0

F K = (x, y), is Set K a function?

70% of the 100 students in Middle School cafeteria bought their lunch some of the students that bought their lunch leave the cafeteria to attend an assembly now only 60% of the remaining students brought their lunch how many students are remaining

What percent of 150 equals 24.9