Answer:
Step-by-step explanation:
The compounding formula for this is
where A(t) is the amount after all the compounding is done, P is the initial investment, r is the interest rate as a decimal, n is the number of times the interest compounds per year, and t is the time in years. For us, our n is 2, since the money compounds every 6 months, and 6 months goes into 1 year 2 times. Our formula then is:
which simplifies a bit to
which simplifies a bit more to
Raise 1.06 to the power of 18 and then multiply the 2 numbers together:
A(t) = 823(2.854339153) so
A(t) = 2349.12
The answer to the equation is 5 7/15
Answer:
Look below.
Step-by-step explanation:
Point slope fromula: y-y1=m(x-x1)
First we have to plug in our points and slope into the formula.
3 will be plugged into x1 while -1 will be plugged into y1.
Since m represents slope we will plug in -2 into m.
Answer: y+1=-2(x-3)
