HELP ASAP with this question.
2 answers:
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Answer:
$712.
Step-by-step explanation:
We have been given that a fund earns a nominal rate of interest of 6% compounded every two years. We are asked to find the amount that must be contributed now to have 1000 at the end of six years.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Since interest is compounded each two years, so number of compounding per year would be 1/2 or 0.5.
Therefore, an amount of $712 must be contributed now to have 1000 at the end of six years.
Answer:
C)
Step-by-step explanation:
Line of best fit (trendline) : a line through a scatter plot of data points that best expresses the relationship between those points.
All the given options for the line of best fit are linear equations.
Therefore, we can add the line of best fit to the graph (see attached), remembering to have roughly the same number of points above and below the line.
Linear equation:
(where is the slope and
is the y-intercept)
From inspection of the line of best fit, we can see that the y-intercept (where x = 0) is approximately 8. So this suggests that options C or D are the solution.
We can also see that the slope (gradient) of the line of best fit is approximately -0.5 (as the rate of change (y/x) is -1 unit of y for every +2 units of x).
Therefore, C is the solution, and the closet approximation to the line of best fit is
