They are equal, 8 x 7 = 56 and 7 x 7 = 49
Answer:
$3,623.84 Exact answer without rounding | $3,623.85 ~ (Approximent Answer with rounding.)
Step-by-step explanation:
Compound Interest Has a Specific Formula:
This case is Exponential Growth.
Formula: y= ab^x
You need to set up the equation.
First we need to define the rate of growth meaning what do you have to do for the 6.5%.
You need to do 100% + 6.5% = 106.5%
You need to convert the percent to a decimal which will be 1.065
Now we need to start plugging things into our formula to solve.
Your initial Starting amount was $3000
So you need to have y=3000(b)^x
We now know that the rate of growth is 1.065 so the b would be 1.065
y=3000(1.065)^x
Our power to x is our 3.5 years.
Our Equation now:
y=3000(1.065)^3
Now you need to use a calculator to do this due to the amount of decimals and digits.
Remember pemdas when doing this!!!
The answer should result to $3,623.84 but if rounded then: $3,623.85
(2,8) and (-2,10)
<u>y₂</u><u> </u><u>- y₁</u> used to find the slope<u>
</u>x₂ - x₁
<u>
</u>plug in the coordinates
<u>10-8</u> = <u>2</u> all equals -1/2
-2-2 = -4 m=-1/2
<u>
</u>plug one of the coordinates and the slope into y=mx+b, and solve
<u />8=-1/2(2)+b
8=-1+b
9=b
Final Answer: y = -1/2x + 9