Deyja invests $1500 in a savings account earning 5.7% interest compounded quarterly. Jill invests $1500 in a different savings account earning APR of 5.6% compounded quarterly. Who will have the most money after 10 years? Give a reason to support your answer. HINT! You don’t need to perform any calculations to answer this question.
Read DetailsThe deer population of a certain rural region in Calvert County is increasing by 3% per year. This year, it is estimated the the population is 170 deer. Assuming that the population continues to increase by 3% per year, how long will it take for the population reach 425 deer? DIRECTIONS for SHOWING WORK: Show all relevant steps, including any formulas you use, so it’s clear how you obtained your answer. Use the EQUATION EDITOR to type all mathematical equations and formulas. Round your final answer to the nearest whole number and use correct units. ________________________________________________________ Chapter 1 Growth Formulas Pn=Pn-1+d{“version”:”1.1″,”math”:”Pn=Pn-1+d”} Pn=P0+d*n{“version”:”1.1″,”math”:”Pn=P0+d*n”} Pn=(1+r)*Pn-1{“version”:”1.1″,”math”:”Pn=(1+r)*Pn-1″} Pn=(1+r)n*P0{“version”:”1.1″,”math”:”Pn=(1+r)n*P0″} Pn=Pn-1+r*1-Pn-1K*Pn-1{“version”:”1.1″,”math”:”Pn=Pn-1+r*1-Pn-1K*Pn-1″}
Read Details