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3 years ago

Someone please help

Mathematics

1 answer:

kkurt [141]3 years ago

7 0

First, make y negative

y=-x-1

From there, you would go down 1 and right 1

3 points you could choose are (0,-1), (-2,1), and (-3,2)

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Answer:

(a) The future value after 9 years is $7142.49.

(b) The effective rate is $r_E=4.759 \:{\%}$ .

(c) The time to reach $13,000 is 21.88 years.

Step-by-step explanation:

The definition of Continuous Compounding is

If a deposit of $P$ dollars is invested at a rate of interest $r$ compounded continuously for $t$ years, the compound amount is

$A=Pe^{rt}$

(a) From the information given

$P=4700$

$r=4.65\%=\frac{4.65}{100} =0.0465$

$t=9 \:years$

Applying the above formula we get that

$A=4700e^{0.0465\cdot 9}\\A=7142.49$

The future value after 9 years is $7142.49.

(b) The effective rate is given by

$r_E=e^r-1$

Therefore,

$r_E=e^{0.0465}-1=0.04759\\r_E=4.759 \:{\%}$

(c) To find the time to reach $13,000, we must solve the equation

$13000=4700e^{0.0465\cdot t}$

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