Answer:y=7(2)^x
Step-by-step explanation:
So this is how you will arrive to the answer:
The following formula models the value of a retirement account,
S = (A [ ( 1 + r ) ^ (t + 1) - 1] / r)
wherein:
A = number of dollars added to the retirement account (each year)
r = annual interest rate
s = value of the retirement account after t years
The question is:
If the interest rate is 11% then how much will the account be worth after 15 years if $2200 is added each year?
Round to the nearest whole number.
Solution:
The said formula contains the term t + 1 instead of the usual "t". Means that the formula applies only in the situation where the money is invested at the beginning of the year instead of the usual practice at the end
Given:
A = 2200
r = 0.11
t = 15
The accumulated amount:
F = A ((1 + r) ^ (t+1) - 1 / r
Substitute:
F = 2200 (1.11 ^ (15 + 1 ) - 1) /0.11
F = 86217.88664
If money is invested at the end of the year, then F = 80476.49, the difference being the investment of an extra 2200 over 15 years.
Answer:
Too few decimal points.
Step-by-step explanation:
53.04 x 4.6 = 243.984.
Answer:
78,780
Step-by-step explanation:
Given:
- 6060 chocolates made per hour
- 13 hours in one day
Number of chocolates made in 1 day = number of chocs/hr × number of hours
= 6060 × 13
= 78,780
Answer:
44 days
Step-by-step explanation:
