Question

of 8 (5 complete) his Question: 1 pt Tesco espered the same time. The best has principal of 1000 in accounting 114 compounded money. The second has a principal of 53000 in an accountang est compounded by Deer te ber of years retter, which the account balances will be Sply you werType anger or a decimal. Do not found the farver. Then found to the rest has needed)

Answer 1

we Know, The formula is, compound interest A = prit met where - ४ А Futus balance P-P Initial balance, Principal) rate of interest No. of times interest is compounded per unit time t t-time period n For First bank aeccunt, P = $ 1000, 02 belly tas " 100 こ Ooll and compounded monthly meang n =12 su, 12t A, 1000 (1+ 0.4 ci 12 Also, Fer secenel Bank account, p= $ 3000, 8= 3%. = Also, compounded annually meens nel 3 = 0.03 sol t AG 2 3000 It 0.03 ('' ۔ How, a to find t such that A = A2

Now, Ai = Az 124 1000 ( = 3000 (1+0.03) =) (1+0) (1+0.0091666)!?! lest 3 puto (1.033 3 12t (loo91666 (11.03€ (1.009166)12 12 it =3 (1.03) ( cc" ) C: abc = Caboc a = ) 1.115717 t 3 1.03 t =) = w (1.083221) In(1.083221) 21 t = ln 3 t en 11.083221) = 1.098612 (: Inab-bena ات こ) t = 1.098612 0.079939 Incl.083221) = 0.079939 =) t = 13.743127 =) ta 13.7 years So, After 13 7 years, the balance in both the bank account is equal.