Answer:
The balance is $5989.5
Step-by-step explanation:
The savings plan balance is given by the following formula:
![A = P*\left[\frac{(1 + \frac{APR}{n})^{n*Y} - 1}{\frac{APR}{n}}\right]](https://tex.z-dn.net/?f=A%20%3D%20P%2A%5Cleft%5B%5Cfrac%7B%281%20%2B%20%5Cfrac%7BAPR%7D%7Bn%7D%29%5E%7Bn%2AY%7D%20-%201%7D%7B%5Cfrac%7BAPR%7D%7Bn%7D%7D%5Cright%5D)
In which A is the savings plan balance, P is the monthly payment, APR is the annual percentage rate(decimal), n is the number of payments per year and Y is the number of years.
In this problem, we have that
Find the savings plan balance after 3 years with an APR of 7% and monthly payments of $150.
So we have to find A when 
.
So
![A = 150*\left[\frac{(1 + \frac{0.07}{12})^{12*3} - 1}{\frac{0.07}{12}}\right]](https://tex.z-dn.net/?f=A%20%3D%20150%2A%5Cleft%5B%5Cfrac%7B%281%20%2B%20%5Cfrac%7B0.07%7D%7B12%7D%29%5E%7B12%2A3%7D%20-%201%7D%7B%5Cfrac%7B0.07%7D%7B12%7D%7D%5Cright%5D)
The balance is $5989.5
Answer:
C
Step-by-step explanation:
The other graphs do not pass the vertical line test (if you draw a vertical line through the line graphed, it should pass through once), but graph c <em>does</em> pass the test.
Answer:
The sum of the first 5 terms is -244
Step-by-step explanation:
To calculate the sum of the geometric series, we need the first term, the common ratio and the number of terms we would like to sum.
The first term here is -4
The common ratio is T2/T1 or T3/T2 = 12/-4 = -3
number of terms n = 5
The formula to use is;
Sn = a(1-r^n)/(1-r)
Plugging these values, we have;
Sn = -4(1-(-3)^5)/(1-(-3))
Sn = -4(1+243)/4 = -1(244) = -244
Answer:
The table represents a function and the slope is -1/2
Step-by-step explanation:
Here, we want to know if the given table is a function
For a relation to be a function, no two y values have same x value
however, 2 x values can have same y value
Looking at the table, we can conclude that what we have is a function
To find the slope, we select any two points and apply the slope formula
m = (y2-y1)/(x2-x1)
(x1,y1) = (6,-2)
(x2,y2) = (-2,2)
m = (2 -(-2))/(-2-6) = 4/-8 = -1/2
