(07.01 MC) Harrison and Sherrie are making decisions about their bank accounts. Harrison wants to deposit $200 as a principle amount, with an interest of 2% compounded quarterly. Sherrie wants to deposit $200 as the principle amount, with an interest of 4% compounded monthly. Explain which method results in more money after 2 years. Show all work.

The option with a higher future value is Option 2.

Step-by-step explanation:

To determine which option is best, we need to determine the higher Future Value. To calculate the FV, we need to use the following formula:

FV= PV*(1+i)^n

Option 1:

n= 2*4= 8 quarters

i= 0.02/4= 0.005

PV= $200

FV= 200*(1.005^8)

FV= $208.14

Option 2:

n= 2*12= 24 months

i= 0.04/12= 0.003333

PV= $200

FV= 200*(1.003333^24)

FV= $216.63

The option with a higher future value is Option 2.

something that characterises a right triangle is the fact that we may use pythagoras' theorem to find any one of its sides given that we have the length of the other two sides. here, we have the length of the hypotenuse, √(87) yd, and one other side, √(23) yd, thus we can easily find the length of the remaining side using pythagoras' theorem as defined below:

c^2 = a^2 + b^2, where c is the length of the hypotenuse, and a and b are the lengths of the other two sides.

thus, given that c = √(87) and a = √(23), we may substitute these into the formula we defined above to get:

c^2 = a^2 + b^2

(√87)^2 = (√23)^2 + b^2 (substitute c = √87 and a = √23 into the equation)

87 = 23 + b^2 (evaluate (√87)^2 = 87 and (√23)^2 = 23 - remember that the square root of a number, squared will equal that very same number)

64 = b^2 (subtract 23 from both sides)

√64 = b (take the square root of both sides)

8 = b (evaluate √64 = 8)

therefor, the length of the unknown leg in the right triangle is 8 yd (first answer).