Answer:
14.2 x 0.784
Step-by-step explanation:
The input values that would produce that output value, we set the output equal to the function's formula and solve for the input.
It’s either b or c. One of those two is the answer for sure
Is there more context to the question?
Answer: $4,365.10
Step-by-step explanation:
Ok, we know that:
The account starts with $2350
There is a simple interest of 3.75% (or 0.035).
Then after one year, the amount in the account will increase by 3.75%, this means that the amount will be:
$2350 + 0.035*$2350 = (1.035)*$2350.
After another year, we have the same increase (but applied to the new amount in the account):
(1.035)*$2350 + 0.035*(1.035)*$2350. = (1.035)^2*$2350
And so on.
You already can see the pattern here, the amount of money in the saving account after N years will be:
M(N) = $2350*(1.035)^N.
Now we can answer:
what is the balance of the account if it earns a simple interest of 3.75% for 18 years?
Just replace N by 18 in that equation:
M(18) = $2350*(1.035)^18 = $4,365.10
