The formula for compound interest is:
A=P(1+r/n)^(nt)
Where A represents the amount of money in the account after t years, P is the principal (investment), n is the number of compoundings per year, and r is the interest rate in decimal form.
P=11,100
r=.031
n=12 (monthly)
t=19
A=11,100(1+.031/12)^(12*19)
A=11,100(1+. 002583)^(228)
A=11,100(1.002583)^(228)
A=11,100(1.80082)
A=$19,989.10
The answer is 25.5 as a decimal, as a fraction it is 51/2.
Answer:
18 years
Step-by-step explanation:
let catrinas age be c
3(c/2)+3=12
3c/6=9
3c=54
c=18
The statement is false. The only shape with fo it lines of symmetry is a square
There were 2.07 times as much people that applied in the fourth month than in the first month.
<h3>What is an exponential function?</h3>
An exponential function is one that grows or decreases in an exponential manner. Thus, for any exponential function we can write; f(x) = ax^±n. The term a is the initial value x is the rate of change while n is the time elapsed. The positive sign is used for an exponential increase while the negative sign is used for an exponential decrease.
Thus we have;
f(x) = 27(1.2)^4
This shows us that the time elapsed is four months and f(x) = 2.07.
Therefore, there were 2.07 times as much people that applied in the fourth month than in the first month.
Learn more about exponential function:brainly.com/question/11487261?
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