We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.
In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.
,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.
After substituting our given values in above formula we will get
Now we will solve for A
Therefore, after 5 years mutual fund is worth $6034.07.
First, converting R percent to r a decimal
r = R/100 = 6%/100 = 0.06 per year,
putting time into years for simplicity,
4 months ÷ 12 months/year = 0.333333 years,
then, solving our equation
I = $ 376.00
I = 18800 × 0.06 × 0.333333 = 375.999624
I = $ 376.00
The simple interest accumulated
on a principal of $ 18,800.00
at a rate of 6% per year
for 0.333333 years (4 months) is $ 376.00.
B. Is the answer because you can fold it in half
Answer:
Step-by-step explanation:
(6, 4)
x = 6 and y = 4
y > -1/2x + 7
Plug in the values to check if it is true.
4 > -1/2(6) + 7
4 > -3 + 7
4 > 4
This statement is false.
(6, 4) lies on the line.
Answer:
idk reeeeeeeeee
Step-by-step explanation:
idkreeeeeeeeee
