1. Your high school freshman class had a total of $1200 from fund-raisers during the year. To help
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Answer:
y = -x + 9
Step-by-step explanation:
0.5x + 0.6y = 5.4
0.6y = -0.5x + 5.4
Multiply 10 on all sides.
6y = -5x + 54
Divide 6 on all sides.
y = -x + 9
Invested amount (P) = $300.
Time in years (t) = 2 years.
Balance after 2 years (A) = $329.49.
Let us assume rate of interest = r % compounds annually.
We know, formula for compound interest
Plugging values in formula, we get
Taking square root on both sides, we get
r=0.048.
Converting it into percentage by multiplying by 100.
r=0.048 × 100
r = 4.8 %
Therefore, the rate of interest on the account is 4.8% compounds annually.