Question

@directrix

Answer 1

Let's compare the two formulas as the first step in this problem

For Account 1, the formula needed is attached.

Answer 2

Look at the formula.

Then, go back to the details for Account 1.

What do you think would be these values which would be substituted into the formula for Account 1?

P = ?
r = ?
n = ?
t = ?

@shaleiah

Answer 3

p=100
r=
n=1.01
t=4

Answer 4

r is the rate of interest written as a decimal. r = 5% = .05

Answer 5

t is the time in years.

n is the number of times per year that the interest is compounded.

n = 12 in Account 1

Answer 6

Alright.

Answer 7

At the end of one year, Account 1 will be worth:

A = 100* (1 + .05/12)^(12*1)

A = 100 * (1.00417)^12

A =$ 105.12 Account 1

Check that and see if you agree.

Answer 8

I agree

Answer 9

Account 2

Formula is given:

A = 100*(1.01)^(4*1) --> What does this equal?

@shaleiah

Answer 10

104.06

Answer 11

After 1 year:

Acount 1: $ 5.12 earned Interest

Account 2: $ 4.06 earned interest

Answer 12

No..C

Answer 13

My brain froze for a second. We know that Account 1 produces the greater amount of interest but we have to figure out the question about the interest rates.

I am thinking that your selection of option C is correct. Hold on a second.

Answer 14

Why did you not go with option A? Just wondering.

Answer 15

5.12-4.06=1.06
Seems closer to 1.00%

Answer 16

I'm stumped on this also :(

Answer 17

Sorry, I did more calculations on the first problem. I'm going with the 1% and hoping that it is correct.

I think I had us do more work than necessary but practice is always good for the brain.

Answer 18

On the second problem, let's work it out and then backtrack to look for all possible correct versions of the problem.

Answer 19

What is 81 as a power of 9?

Answer 20

1^17

Answer 21

No.

81 = 9^x

What is x

Answer 22

9