Explain why a linear function that is continuous has an infinite number of solutions. Then determine which of the following repr
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The money in bank after 4 years will be
<u>Solution:</u>
Given, Sam deposits 12,500 each year into a retirement account with a simple interest rate.
He deposits the same amount each year, we have to find the amount of money will he have at the end of his fourth year.
We know that,
So, now let us find S.I after
Then, after year he adds 12,500 again, which means amount doubles
S.I also doubles as rate and time of 1 year gap are constant.
Then, S.I for
Amount and corresponding S.I for 4 years will be,
Now, total balance = amount after year + sum all simple interests made up to now.
Total balance
Data:
Depreciating: The value decrease
Rate: 5% per year
2010: $32,000
2013: $?
Step 1: As depreciating means decrease, the value of the car is decaying
Step 2 and step 3: You use the formula below to find the value of the car after 3 years (as the value is decaying the rate in the formula is substracting)
Final value: F
Principal value: P=32000
rate: r=5
Time in years: n=3 (2013-2010=3)