4) Moira plans to deposit $1000 into a bank account and leave it in the bank to gather interest for 5 years. She researches the interest rates at two banks. Her findings are in the table below.
Bank A
interest rate: 4%
compounded monthly
A = P (1+r/n)nt^
Bank B
interest rate: 4%
compounded continuously
A = Pe^rt

Compute the amount of money that Moira would have in each bank after 5 years. Which bank should Moira
Choose and why?

.632

step-by-step explanation:

6 * 1/10 = 3/5

3*0.01 = 0.03

3/5 + 0.03 = .63

2*0.002 = .002

.63 + 0.002 = .632

the terms of a geometric sequence can be found by beginning with the first term and multiplying by the common ratio repeatedly. a recursive formula for a geometric sequence with common ratio r is given by an=ran−1 a n = r a n − 1 for n≥2 n ≥ 2 .

step-by-step explanation:

$54.99

step-by-step explanation:

$54.99 includes 500 min. if she does not exceed 500 min then her bill is $54.99