Answer:
You can use the formula 500 * 1.03^x to solve for any year.
year 4 is 500 * 1.03^(4) = 562.75
year 6 is 500 * 1.03^(6) = 597.03
Year 7 is 500 * 1.03^(7) = 614.94
Step-by-step explanation:
The amount is increasing, and there are two main ways for that to happen. Addition and multiplication. So let's see if it keeps getting the same amount added or multiplied.
0 to 1 goes from 500 to 515, so 15 is added. but 15.45 is added from 1 to 2, so we can't just do simple addition.
using multiplication 0 to 1 has 1.03 multiplied. if you multiply by it again you do get 530.45, so we have established what is happening.
You can use the formula 500 * 1.03^x to solve for any year.
so year 4 is 500 * 1.03^(4) = 562.75
year 6 is 500 * 1.03^(6) = 597.03
Year 7 is 500 * 1.03^(7) = 614.94
I = prt is the formula for simple interest
400 = 8000* .02 * t
400 = 160 * t
2.5 = t
2.5 years to earn $400 interest
Step-by-step explanation:
Let the two numbers be x and y
x+y =5 ---1
x-y =-3 ---2
Rearrange equation 1
x =5-y
Substitute x in the second equation
(5-y)-y =-3
5-y-y =-3
5-2y =-3
Collect like terms
5+3 = 2y
8 = 2y
Divide both sides by the coefficient of y (2)
8/2 = 2y/2
4 = y
y= 4
Substitute y in equation 1
x+4 =5
Subtract 4 from both sides
x+4-4 = 5-4
x+0 = 1
x= 1
The two numbers are 1 and 4
-2 2/10 and -2 3/10 would both work.
If you were to get 30% backed off, lucky you !
You would then pay only the remaining 70%.
70% means 0.70
0.70 x $610 = <u>$427 </u>
