Answer:
24
Step-by-step explanation:
Answer:
A, B, E
Step-by-step explanation:
The attachment shows a graph of the function. It tends to infinity for x going to infinity in either direction. (A, B are true)
The right-side piece is cubic, not quadratic.
The U-shape tells you the function is decreasing on the left side.
The two function definitions have the same value at x=2, so the function has no discontinuities. It is continuous. (E is true)
The effective annual interest rate is:
i = (1 + 0.064/12)^12 - 1 = 0.066
In year 1: the interest is $613.80 (multiple $9300 by 0.066)
In year 2: the interest is $654.31 (add interest from year 1 to $9300 and multiply by 0.066)
In year 3: the interest is $656.98 (do the same as year 2)
In year 4: the interest is $657.16
The total interest is: $2582.25
The present worth of this amount is:
P = 2582.23 / (1 + 0.066)^4 = $1999.72
The answer is $1999.72.