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tigry1 [53]
4 years ago
6

Solve the compound interest problems and round your answer to the nearest 100th.

Mathematics
1 answer:
Svetlanka [38]4 years ago
7 0

Answer:

$3207.14.

Step-by-step explanation:

The formula for compound interest is

A = P(1 + r/100)^t   where A is the amount after t years, P = Initial investment,

r = interest rate and t = time.

So hear A = 1000(1 + 6/100)^20

= 1000 * 1.06^20

= $3207.14.

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A candle burned at a steady rate. After 38 minutes, the candle was 11.2 inches tall. Eighteen minutes later, it was 10.75 inches
julia-pushkina [17]

Let us take time by x variable and height of the candle by y variable.

We can setup two coordinates form the given statements:

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Eighteen minutes later, it was 10.75 inches tall : (56,10.75).

We need to write slope -intercept form of the equation first.

Slope-intercept form is :

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<em>In order to find slope-intercept form we need to find the slope of the given equation.</em>

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Now, we need to find the height of the candle after 4 hours.

We took time in minutes.

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Adding 11.2 on both sides, we get

y-11.2+11.2 = -5.05+11.2

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We need to round it to the tenth place.

Therefore, y = 6.15.

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