Answer:
The original value of the car.
Step-by-step explanation:
The 21,500 would be the <em>a </em>value of the function, as it is before the parentheses. The <em>a </em>value of an exponential function is a constant, and it is the y-intercept of that function, meaning in a real-world application, it would be where the values start at. In this case, the 21,500 is where the price of the car starts at, i.e., the original value of the car.
Current amount in account
P=36948.61
Future value of this amount after n years at i=11% annual interest
F1=P(1+i)^n
=36948.61(1.11)^n
Future value of $3000 annual deposits after n years at i=11%
F2=A((1+i)^n-1)/i
=3000(1.11^n-1)/0.11
We'd like to have F1+F2=280000, so forming following equation:
F1+F2=280000
=>
36948.61(1.11)^n+3000(1.11^n-1)/0.11=280000
We can solve this by trial and error.
The rule of 72 tells us that money at 11% deposited will double in 72/11=6.5 years, approximately.
The initial amount of 36948.61 will become 4 times as much in 13 years, equal to approximately 147800 by then.
Meanwhile the 3000 a year for 13 years has a total of 39000. It will only grow about half as fast, namely doubling in about 13 years, or worth 78000.
Future value at 13 years = 147800+78000=225800.
That will take approximately 2 more years, or 225800*1.11^2=278000.
So our first guess is 15 years, and calculate the target amount
=36948.61(1.11)^15+3000(1.11^15-1)/0.11
=280000.01, right on.
So it takes 15.00 years to reach the goal of 280000 years.
Answer:
false
Step-by-step explanation:
5+2=15÷(3+2)
5+2=15÷5
7=15÷5
7=3
false because they are different
Answer:
D
Step-by-step explanation:
Answer:
It is arithmetic and it has a common difference of -99
