Answer:
$18,726.11
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
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First lets change 9% into a decimal:
9% -> -> 0.09
Since the interest is compounded quarterly, we will use 4 for n. Lets plug in the values now:
<u>The balance after 5 years is $18,726.11</u>
Answer:
The equation of the line that goes through points (1,1) and (3,7) is
Step-by-step explanation:
Determine the equation of the line that goes through points (1,1) and (3,7)
We can write the equation of line in slope-intercept form where m is slope and b is y-intercept.
We need to find slope and y-intercept.
Finding Slope
Slope can be found using formula:
We have
Putting values and finding slope
We get Slope = 3
Finding y-intercept
y-intercept can be found using point (1,1) and slope m = 3
We get y-intercept b = -2
So, equation of line having slope m=3 and y-intercept b = -2 is:
The equation of the line that goes through points (1,1) and (3,7) is
