A local village recently reported that enrollment increase by 10 percent of last year if enrollment last year was 17,113 about h
1 answer:
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<h3>hello!</h3>
We're given a point that the line intersects and its slope.
Let's use Point-slope:-
y1 = -5
m=-5
x1=-1
Convert to slope-intercept:-
Finally,
Hope everything is clear; if you need any clarification/explanation, kindly let me know, and I will comment and/or edit my answer :)
Answer:
Total amount that Matthew's bank will receive is $10099.81.
Step-by-step explanation:
We need to find the amount Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually.
The formula for compound interest is:
Where A = future value
P= Principal Amount
r = interest rate
and n= time
So in the question we are given:
P= $8000
r = 6% or 0.06
t = 4 (since 4 yeras compounded annually)
A= 8000*(1+0.06)^4
A= 8000*(1.06)^4
A= 10099.81
So, total amount that Matthew's bank will receive is $10099.81.