If you have a savings account, contact your bank and find out the interest rate on that account. (If you don’t have your own acc
ount, contact a local bank to ask what the interest rate would be if you set up a savings account today.)
a. State the interest rate the bank quoted.
b. Write an exponential growth equation that models the yearly growth if you put $625 in the account and left it there for years.
c. What will be the value of the account in 25 years?
d. Which of the following would result in more money: $625 deposited in your bank at the current interest rate for 6 years, or deposit $625 into a money market account with a 5% rate for 1 year? Show how you determined your answer.
a. State the interest rate the bank quoted.
b. Write an exponential growth equation that models the yearly growth if you put $625 in the account and left it there for years.
c. What will be the value of the account in 25 years?
d. Which of the following would result in more money: $625 deposited in your bank at the current interest rate for 6 years, or deposit $625 into a money market account with a 5% rate for 1 year? Show how you determined your answer.
1 answer:
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Answer:
755,160 ways
Explanation:
We're told that 31 cars are in a race.
Considering the order in which the cars can finish in the top 4 positions, any of the 31 cars can finish in the first position, any of the remaining 30 cars can finish in the second position, any of the remaining 29 cars can finish in the third position and any of the remaining 28 cars can finish in the fourth position, so the different numbers of ways can be determined as seen below;