they are both increasing at the same rate
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Answer:
FV= $8,739.38
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $6,100
Number of periods (n)= 12*12= 144
Interest rate (i)= 0.03/12= 0.0025
<u>To calculate the future value (FV), we need to use the following formula:</u>
FV= PV*(1 + i)^n
FV= 6,100*(1.0025^144)
FV= $8,739.38
The slope will be 4/7. Let me know if you want an explanation.
Answer: 4/7
Hope this helped!
Answer:
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Step-by-step explanation: