Answer:
See image below
Step-by-step explanation:
We want to draw a line through all points with a y-coordinate of -3; first let's observe some of these points: (-3,-3), (0,-3), (1,-3), (10,-3) are all part of this line.
We can see that what all these points have in common are that they have -3 in the y axis. Therefore, the graph of the line would be y = -3
This line is drawn in the graph below.
Answer:
(a) The future value after 9 years is $7142.49.
(b) The effective rate is .
(c) The time to reach $13,000 is 21.88 years.
Step-by-step explanation:
The definition of Continuous Compounding is
If a deposit of dollars is invested at a rate of interest
compounded continuously for
years, the compound amount is
(a) From the information given
Applying the above formula we get that
The future value after 9 years is $7142.49.
(b) The effective rate is given by
Therefore,
(c) To find the time to reach $13,000, we must solve the equation
