3 years ago

Please help!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

1 answer:

3 0

It does match-
The Y-Intercept is 12
And the slope is -3/1

You can confirm this by counting rise over run in the graph
Starting at the Y-Intercept (Y=12) the graph goes down 3 units (-3) over 1 unit (1)
This confirms that the slope is -3/1

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Lane invests $7,000, at 7% interest, compounded annually for 22 years. Calculate the compound interest for his investment.

amm1812

$\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$7000\\ r=rate\to 7\%\to \frac{7}{100}\dotfill &0.07\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &22 \end{cases} \\\\\\ A=7000\left(1+\frac{0.07}{1}\right)^{1\cdot 22}\implies A=7000(1.07)^{22}\implies A\approx 31012.81$