Answer:
$3,623.84 Exact answer without rounding | $3,623.85 ~ (Approximent Answer with rounding.)
Step-by-step explanation:
Compound Interest Has a Specific Formula:
This case is Exponential Growth.
Formula: y= ab^x
You need to set up the equation.
First we need to define the rate of growth meaning what do you have to do for the 6.5%.
You need to do 100% + 6.5% = 106.5%
You need to convert the percent to a decimal which will be 1.065
Now we need to start plugging things into our formula to solve.
Your initial Starting amount was $3000
So you need to have y=3000(b)^x
We now know that the rate of growth is 1.065 so the b would be 1.065
y=3000(1.065)^x
Our power to x is our 3.5 years.
Our Equation now:
y=3000(1.065)^3
Now you need to use a calculator to do this due to the amount of decimals and digits.
Remember pemdas when doing this!!!
The answer should result to $3,623.84 but if rounded then: $3,623.85
Answer:
y = 2x - 7
Step-by-step explanation:
The equation of a line in slope- intercept form is
y = mx + c ( m is the slope and c the y- intercept )
y = 2x + 3 ← is in slope- intercept form
with slope m = 2
Parallel lines have equal slopes , then
y = 2x + c ← is the partial equation
To find c substitute (5, 3 ) into the partial equation
3 = 10 + c ⇒ c = 3 - 10 = - 7
y = 2x - 7 ← equation of parallel line
The answer would be 1/6 assuming a fair trial
75 42
----- -----
100 x
75 x= 4200
--- ------
75 75
x = 56
