Ask Question
5 November, 20:21

Orlando invests S1000 at 6% annual interest compounded daily and Bernadette invests S1000 at 170 simple interest. After how many whole years will Orlando's investments be worth more than

Bernadette's investments?

+5
Answers (1)
  1. 5 November, 23:13
    0
    So it will only take a year for Orlando's investments be worth more than

    Bernadette's investments

    Step-by-step explanation:

    Interest of Bernadette in a year

    = (1000*170*1) / 100

    = 1700

    So amount at a year is$ 2700

    For Orlando amount the end of the year with compound interest daily.

    A = P (1+r/n) ^nt

    A = 1000 (1 + (17/365)) ^ (365*1)

    A = 1000 (1+0.0466) ^365

    A = 1000 (1.0466) ^365

    A = $1.659*10^10

    So it will only take a year for Orlando's investments be worth more than

    Bernadette's investments
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Orlando invests S1000 at 6% annual interest compounded daily and Bernadette invests S1000 at 170 simple interest. After how many whole ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers