A principal of $2300 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 10 years?

Use the following information for problems 1 – 3. Suppose you sign a contract for an annual salary of $50,000 with a guaranteed

erik [133]

Initial salary = $50,000 .

Rate of raise = 5% each year.

Therefore, each next year salary would be 105% that is 1.05 times.

5% of 50,000 = 0.05 × 50000 = 2500.

Therefore raise is $2500 each year.

According to geometric sequence first term 50000 and common ratio 1.05.

Applying geometric sequence formula

$a_n = ar^{n-1}$

1) $a_n = 50000(1.05)^{n-1}$

2) In order to find salary in 5 years we need to plug n=5, we get

$a_5 = 50000(1.05)^{5-1}= 50000(1.05)^4$

= 50000(1.21550625)

3) In order to find the total salary in 10 years we need to apply sum of 10 terms formula of a geometric sequence.

$S_n = \frac{a(1-r^n}{1-r}$

Plugging n=10, a = 50000 and r= 1.05.

$S_10 = \frac{50000(1-(1.05)^{10}}{1-1.05}$

$S_10 = \frac{50000(0.050)^{10}}{0.05}$

= 628894.62678.

<h3>Therefore , you will have earned $ 628894.62678 in total salary by the end of your 10th year.</h3>

7 0

3 years ago

01.05 what is the slope intercept form equation of the line that's passing through (1,3) and (3,7)

Butoxors [25]

Hello!

To find the slope-intercept form equation of the line that passes through the two points is found by first, calculating the slope using the slope formula and substitution, and secondly, finding the y-intercept of the equation through substitution.

Remember, slope-intercept form is written as: y = mx + b, where m is the slope and b is the y-intercept.

1. Find the slope

The slope formula is: $\frac{y_{2}-y_{1}}{x_{2}-x_{1}}$ . To use this formula, you need two points and also, you need to assign these points to $x_{1}$ , $x_{2}$ , $y_{1}$ , and $y_{2}$ .

In this case, $x_{1}$ and $x_{1}$ is assigned to the ordered pair (1,3), while $x_{2}$ and $y_{2}$ is assigned to (3, 7). After assigning these points, you can substitute the pairs into the formula and simplify.

$\frac{7-3}{3-1} =\frac{4}{2} = 2$

The slope of these two points is 2.

2. Find the y-intercept

To find the y-intercept, you substitute an ordered pair into the slope-intercept equation with the slope that was just calculated. We can use either ordered pair because it will result in the same y-intercept.

y = 2x + b (substitute)

3 = 2(1) + b (simplify)

3 = 2 + b (subtract 2 from both sides)

1 = b

The y-intercept of the two points is (0, 1).

With the necessary values to complete the equation, we can write the final equation.

The slope-intercept form equation of the line that passes through the points (1, 3) and (3, 7) is y = 2x + 1.

7 0

3 years ago

How do I use substitution to solve

nekit [7.7K]

<span>The method of solving "by substitution" works by solving one of the equations (you choose which one) for one of the variables (you choose which one), and then plugging this back into the other equation, "substituting" for the chosen variable and solving for the other. Then you back-solve for the first variable.</span>

4 0

3 years ago

Read 2 more answers

10 POINTS AND BRAINLIEST<br> URGENT MATH QUESTION SEE PICTURE

Lostsunrise [7]

The point-slope form:

$y-y_1=m(x-x_1)$