What is the calculation for determining simple interest and compound interest? Borrowing if borrowed $20,000 for 5 years at a 4% interest rate? What is total interest paid?

If using simple interest, the formula is:

= Amount * ( 1 + rate * time)

= 20,000 * ( 1 + 4% * 5)

= $24,000

Interest = Balance after 5 years - Investment

= 24,000 - 20,000

= $4,000

Using Compound Interest:

= Amount * ( 1 + rate)^time

= 20,000 * ( 1 + 4%)⁵

= $24,333.06

Interest = 24,333.06 - 20,000

= $4,333.06

b: |12 – x| ≤ 0.25

step-by-step explanation:      

let x be the possible lengths in inches, of the ribbons jaime cut.

we have been given that jaime is cutting strips of ribbon for a project. he tries to cut each piece to be 12 inches long, but sometimes he cuts it too long or too short by as much as 0.25 inch.  

we can represent this information in an inequality as:

by the definition of absolute value function we will get,

upon combining our inequalities we will get,

therefore, the inequality   describes all the possible lengths (x), in inches, of the ribbons jaime cut.

step-by-step explanation: