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.
Y = mx + c therefore
m = 1
c = -2
Answer: I believe its 24 meters.
Explanation: Just divide 120 by 5
The range is the highest number minus the lowest number. So in this case it would be:
16 - 5 = 11
Hope this helps! :)