Answer:
Step-by-step explanation:
Since interest is compounded semi-annually (half a year or 6 months), in a spawn of 2 years, the interest will have been compounded 4 times. As given in the problem, each time the interest is compounded, the new balance will be 107% or 1.07 times the amount of the old balance.
Therefore, we can set up the following equation to find the new balance after 2 years:
Answer:
x =
Step-by-step explanation:
Given
-
=
← factor denominator
-
=
[ x ≠ 0, x ≠ - 1 as these would make the terms undefined ]
Multiply through by x(x + 1)
4x² - 5(x + 1) = 4
4x² - 5x - 4 = 4 ( subtract 4 from both sides )
4x² - 5x - 9 = 0 ← in standard form
(x + 1)(4x - 9) = 0 ← in factored form
Equate each factor to zero and solve for x
x + 1 = 0 ⇒ x = - 1
4x - 9 = 0 ⇒ 4x = 9 ⇒ x =
However, x ≠ - 1 for reason given above, then
solution is x =
