Answer: Choice B) Investment decreases by 3% each month
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Explanation:
We won't use the value 2500 at all.
The base of the exponential is 0.97
Set this equal to 1+r and solve for r
1+r = 0.97
r = 0.97-1
r = -0.03
The negative r value indicates we have exponential decay, so the value of the investment decreases by 3% each month.
Let's say you had $100 to start off. This would mean the investment would be worth $97 after one month is up.
Answer:
3.07
Step-by-step explanation:
Answer:
£140
Step-by-step explanation:
Modal is the most common value in a sample, in this case it's 140
<span>You have decided to buy a new home and the bank offers you a 10 year fixed loan at 5.0% on a balance of $275,325. Use the table provided to determine the monthly payments.
a.
$2,921.20
</span>
2/3b = 12
First you have to get rid of 2/3, so you multiply both sides by its reciprical:
(3/2) 2/3b = 12 (3/2) -->b = 36/2 --> b = 18
