Avery wants to buy a car and has a choice between two different banks. One bank is offering a simple interest rate of 3.2% and the other bank is offering a rate of 3% compounded annually. If Avery decides to deposit $7,000 for 5 years, which bank would be the better deal? 1. a simple interest rate of 3.2% 2. a compound interest rate of 3%

a simple interest rate of 3.2% will be the better deal.

Step-by-step explanation:

Hi, to answer this question we have to apply the compounded interest formula:  

A = P (1 + r/n) nt  

Where:  

A = Future value of investment (principal + interest)  

P = Principal Amount  

r = Nominal Interest Rate (decimal form, 3/100= 0.03)  

n= number of compounding periods in each year (1)  

Replacing with the values given  

A = 7000 (1+0.03/1)^(1x5)

A = 7000( 1.03)^5 = $8,114.92

For simple interest:

I = p x r x t  

Where:  

I = interest  

Replacing with the values given:

I = 7000 x (3.2/100) x 5 = $1,120

Adding the principal amount: 7000+1120 = $8,120

Since 8,120 (simple) >8,114.92(compound)

a simple interest rate of 3.2% will be the better deal.

lol

step-by-step explanation:

the correct functions are

h(x) = 3x + 2  

g(x) = 2^x

step-by-step explanation:

i proceed to calculate the different values ​​of k (x)

case 1)  k(x) = g(x) ∘ h(x)

g(x) ∘ h(x)=g(h(x))

k(x) = [2]^[3x + > is the option  4. k(x) = 2^(3x + 2 )

case 2)  k(x) = g(x) + h(x)

k(x) = [2^x]+[3x + 2]=2^x+3x+> is the option  1.) k(x) = 2^x + 3x + 2

case 3)k(x) = h(x) ÷ g(x)

k(x) =  [3x + 2]/[2^x]=3x/(2^x)+2/(2^x)=3x*(2^-x)+2^(1-x)

is the option  3.)   k(x) = (3x)2^(-x) + 2^(-x + 1 )

case 4)k(x) = g(x) - h(x)

k(x) =  [2^x]-[3x + 2]=2^x-3x-> is the option  2.) k(x) = 2^x - 3x - 2 

case 5)  k(x) = g(x) × h(x)

k(x) = [2^x]*[3x + > is the option  5.) k(x) = 2^x(3x + 2)

case 6)k(x) = h(x) ∘ g(x)

h(x) ∘ g(x)=h(g(x))

k(x)=3*[2^x]+> is the option  6. k(x) = 3(2^x) +2