Answer:
The correct answer is a. $2275.28; b. 17.04 years
Step-by-step explanation:
Principal to be invested is $2000
Interest rate (r) per year is 6.5 quarterly.
Interest is calculated compoundly.
a. Time (t) for the investment is given to be 2 years.
Amount after two years is = Principal × 
where the value of n is 4.
⇒ A = 2000 × 
⇒ A = $2275.28.
b. Now the value of A is given to be triple the principal = $ (3 × 2000).
Therefore we need to find the value of t.
⇒ 3 × 2000 = 2000 × 
⇒ ㏑ 3 = 4t × ㏑ ( 1.01625)
⇒ t = 17.04
Therefore it would take 17.04 years for the principal to triple.
Answer:
Step-by-step explanation:
<u>Given</u>
- Each deposit = $1500
- Interest rate= 5%
- Time = 4 years
- Compound number = annual
<u>Simple interest account</u>
- B = 1500*(1 + 4*0.05) = 1500*1.2 = $1800
<u>Compound interest account</u>
- B = 1500*(1 + 0.05)^4 = $1823.26
<u>Total balance</u>
- $1800 + $1823.26 = $3623.26
So you basically plot a point of the y axis on 7 then since the slope is -3x you have to go down 3 and to the right 1 and keep going then you have to do the same but opposite, go up 3 times and to the left 1 unit.
Answer:
Good luck mate with that
Step-by-step explanation:
Let the number be 'x'
The equation would be
(1/3)x +11
