ind the present value that will grow to $4000 if the annual interest rate is 8.5% compounded quarterly for 9 yr.
1 answer:
Answer:
$1876.31
Step-by-step explanation:
The present value can be found using the compound interest formula.
<h3>Present value</h3>The formula for the future value of an investment of P earning annual interest rate r compounded n times per year for t years is ...
FV = P(1 +r/n)^(nt)
Filling in the known values gives ...
4000 = P(1 +0.085/4)^(4·9) = P(1.02125^36)
Then the amount to be invested is ...
P = 4000/1.02125^36 ≈ 1876.31
The present value is $1876.31.
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Answer:
Exponential functions!
Step-by-step explanation:
I think what you are dealing with is an exponential function!
So, to solve this, we need to first understand the main form of an exponential function:
Where a is the number we start off with, and b is the constant thing(forgot what it was called).
Now, 150 is our starting number, so it is a, and b is our constant at which the initial term is multiplied, which is 3!
Also, defining variables:
Let f(x)= # of Bees
Let x= # of years
Thus, here is our equation:
So, that's it!
Now, some of my answers have been recently deleted because they violated community guidelines for recommending something that shall not be named, so if you do really need help on the subject, look online! It is the largest source of information humanity has created! (also I cannot explain Exponential Functions in a single paragraph)
Stay Safe!