You divide 5 and 16 to get the answer: 0.3125.
Answer:
$3,623.84 Exact answer without rounding | $3,623.85 ~ (Approximent Answer with rounding.)
Step-by-step explanation:
Compound Interest Has a Specific Formula:
This case is Exponential Growth.
Formula: y= ab^x
You need to set up the equation.
First we need to define the rate of growth meaning what do you have to do for the 6.5%.
You need to do 100% + 6.5% = 106.5%
You need to convert the percent to a decimal which will be 1.065
Now we need to start plugging things into our formula to solve.
Your initial Starting amount was $3000
So you need to have y=3000(b)^x
We now know that the rate of growth is 1.065 so the b would be 1.065
y=3000(1.065)^x
Our power to x is our 3.5 years.
Our Equation now:
y=3000(1.065)^3
Now you need to use a calculator to do this due to the amount of decimals and digits.
Remember pemdas when doing this!!!
The answer should result to $3,623.84 but if rounded then: $3,623.85
1. To answer the questions shown in the figure atttached, it is important to remember that the irrational number e is aldo called "Euler's number" and you can find it in many exercises in mathematics.
2. Then, the irrational number e is:
e=<span>2.71828
</span>
3. When you rounded, you have:
e=<span>2.718
</span>
4. Therefore, as you can see, the the correct answer for the exercise above is the option c, which is: c. 2.718
