Answer:
a) $520
b) $580
c) Interest amount is same each year
Step-by-step explanation:
Given - Georgie put $500 in her savings account, earning interest at a rate of 4% each year. She did not make any more deposits or withdrawals.
To find - a) How much money was in the account after one year?
b) How much money was in the account after 4 years?
c) Was the amount of money earned in interest the same or different each year?
Proof -
Here given that,
Principal amount = $500
rate of interest = 4% = 4/100 = 0.04
Now,
a)
Amount = P [ 1 + RT ]
= 500 [ 1 + 0.04(1)]
= 500 [ 1 + 0.04] = 520
⇒Amount = $520
b)
Amount = P [ 1 + RT ]
= 500 [ 1 + 0.04(4)]
= 500 [ 1 + 0.16] = 580
⇒Amount = $580
c)
In 2nd year,
Amount = P [ 1 + RT ]
= 500 [ 1 + 0.04(2)]
= 500 [ 1 + 0.08] = 540
⇒Amount = $540
Now,
Interest in 1st year = 520 - 500 = 20
Interest in 2nd year = 540 - 520 = 20
So,
The interest amount is same each year
To help you out I save your picture and explain the process. The only thing tht confuses me is problem #!6. But I hope I helped you out in the slightest bit
So to fine slope you would use the formula down below:
rise/run
So use a graphed point, 0, -5 and you rise or count up quadrants up to a point and then horizontally move to when you find that point.
So from 0,-5 go up 9 vertically, and you would be on the 4
Go horizontal 3 spots and your on a designated point.
So the rise is four and the run is 3
So 4/3 is the slope
In the y= Mx + b equation you would set the equation like this:
y= 4/3 + -5
The m in this formula stands for the slop and the b stands for the y-intercept
The y-intercept is the point that is on the y-axis and where it starts.
