Emily and Madison both invest $1000 at 10% per year for 4 years. Emily receives simple interest
Question:
Emily and Madison both invest $1000 at 10% per year for 4 years. Emily receives simple interest and Madison gets compound interest. Use a spreadsheet and cell reference formats to develop relations that show a total of $64 more interest for Madison at the end of the 4 years. Assume no withdrawals or further deposits are made during the 4 years.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Spreadsheet shows relations only in cell reference format Cell E10 will ind...View the full answer
Answered By
Ajeet Singh
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life.
I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge.
I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields.
Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a teacher. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
4.90+
7+ Reviews
15+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Allied Food Products is considering expanding into the fruit juice business with a new fresh lemon juice product. Assume that you were recently hired as assistant to the director of capital budgeting...
-
Sheryl and Marcelly both invest $1000 at 10% per year for 4 years. Sheryl receives simple interest and Marcelly gets compound interest. Use a spreadsheet and cell reference formats to develop...
-
The Perez Company has the opportunity to invest in one of two mutually exclusive machines that will produce a product it will need for the foreseeable future. Machine A costs $10 million but realizes...
-
In the same study cited in Example 1, another trial was conducted with 75 women in China given a 100-Yuan bill, while another 75 women in China were given 100 Yuan in the form of smaller bills (a...
-
A homogeneous hemisphere of radius r is placed on an incline as shown. Assuming that friction is sufficient to prevent slipping between the hemisphere and the incline, determine the angle ...
-
Analyzing the Effects of Transactions Using T-Accounts and Interpreting the Total Asset Turnover Ratio as a Financial Analyst Massa Company, which has been operating for three years, provides...
-
What advantages are there to using social media sites for informal discovery? How may the information you find help in settling a civil lawsuit?
-
What are the advantages of establishing pay ranges, rather than specific pay levels, for each job? What are the drawbacks of this approach?
-
Assume a $ 2 4 3 , 1 9 7 billion machine purchased on 8 / 1 / 2 2 . 1 0 % salvage value. 5 year estimated life. Assume your company is a calendar year - end. For the years 2 0 2 2 and 2 0 2 3 ONLY:...
-
Consider the following two investment alter-natives. Determine the range of investment costs for Alternative B (i.e., min. value < X < max. value) that will convince an investor to select Alternative...
-
For the following five spreadsheet functions, (a) Write the values of the engineering economy symbols P, F, A, i, and n, using a ? for the symbol that is to be determined, and (b) State whether the...
-
Assume a program requires the execution of 50 106 FP instructions, 110 106 INT instructions, 80 106 L/S instructions, and 16 106 branch instructions. The CPI for each type of instruction is 1, 1,...
-
Solve the inequality. |x - 4 | < 1
-
Please describe what a Galera cluster is and how it works. In your description, compare a Galera cluster to a Windows server cluster and the strengths and weaknesses of each synchronous and...
-
Ivanhoe Inc. made a $23000 sale on account with the following terms: 1/15, n/30. If the company uses the net method to record sales made on credit, how much should be recorded as revenue?
-
What is a product that is characterize as being 'out of control' from a statistical process control perspective. How could statistical process control be used to assign the cause of this quality...
-
Three capacitors are connected in parallel. Each has plate area A = 6.0010 -2 m 2 and plate spacing d = 2.6010 -3 m . What must be the spacing of a single capacitor of plate area A if its capacitance...
-
A company sold a machine to B, the price was 100,000, and there were no special concessions or discounts associated with the sale. As this was the first transaction with B, B asked for and was...
-
Define the term primary key in terms of functional dependencies.
-
Gordon and Lisa estimate that they will need $1,875,000 in 40 years for their retirement years. If they can earn 8 percent annually on their funds, how much do they need to save annually?
-
In cleaning out some files that were left behind by the engineer who preceded you in your current job, you found an old report that had a calculation for the present worth of certain maintenance...
-
The equivalent annual worth of an increasing arithmetic gradient is $135,300. If the cash flow in year 1 is $35,000 and the gradient amount is $19,000, what is the value of n at an interest rate of...
-
You are told that the present worth of an increasing geometric gradient is $88,146. If the cash flow in year 1 is $25,000 and the gradient increase is 18% per year, what is the value of n? The...
-
Prepare the operating activities section of the SCF for the Bessdoon Restaurant using the indirect method. Income Statement Sales Depreciation Other expenses Operating income Loss on sale of...
-
Gilly is the PFO of Petro, Incorporated. This year, Gilly\'s compensation package was $ 7 3 8 , 0 0 0 , which included $ 6 1 5 , 0 0 0 salary and an accrued, unfunded liability to pay the $ 1 2 3 , 0...
-
The cost analyst for Sheffer Systems collected the following data concerning direct materials: Actual production Direct materials purchased (actual) Standard cost of materials purchased Standard...
Study smarter with the SolutionInn App