Study guides

☆☆

Q: Mike needs help in choosing whether he should invest 650 at 4.9 percent for one year or 500 at 5.0 percent interest for one year What is the difference in the amount of interest Mike could earn betwee?

Write your answer...

Submit

Still have questions?

Related questions

Interest on 650 @ 4.9% = 650*4.9/100 = 31.85 Interest on 500 @ 5.0% = 500*5.0/100 = 25.00 So the 650 at 4.9% is clearly better.

The interest for 1 year is 37.00, whether it is simple or compound interest.

That depends on whether you are asking what percentage 15 is of 10.5, what percent 10.5 is of 15, what percent of 15 is the difference between the two, or what percent 10.5 is of the difference, etc.

It depends whether the interest is compound or not. However, if the interest is credited at the end of the first year, you would have 166250 interest at 9.5%

One must pursue a career of his or her interest. Choosing a career of your interest will automatically make you express yourself, whether it is painting, music, doctor or anything.

Interest coverage ratio, is net operating income + accrual/ interest That is whether the company can cater for the interest portion.

It depends on whether the 4% interest is per annum or for 8 years altogether. Also, you have to see if it is a simple interest or compounded interest.

The answer depends on whether you are the lender or the borrower and also in the country that you get the mortgage in.

That depends on whether it's simple interest or compound interest.If compound, then it also depends on how often interest is compounded.Examples:$1,200 at 4% simple interest for 30 years adds up to $2,640.$1,200 at 4% interest compounded quarterly for 30 years adds up to $3,960.46.You can see that it does make a difference.

Capital one interest rates vary according to the type of card offered. Interest rates range from 10.9 to 24.9 percent depending on whether the card is Classic, Platinum, or Prestige.

With compound interest, after the first period you interest is calculated, not only on the original amount but also on the amount of interest from earlier periods. As to "better" or not, the answer depends on whether you are earning it on savings or paying it on borrowing!

1 percent of 250 million is 2.5 million .The accumulation per year depends on whether it's simple, annual interest,or whether it's compounded at some interval during the year.You also need to know whether it's going to be compounded after the first year,because if it is, then you head into the second year owing 252.5 million, not 250.

People also asked