Answer:
7868
Step-by-step explanation:
⇒ This can be written algebraically (with a variable <em>x</em>) as:
562 ÷ x = 14
⇒ Convert the division as a fraction:
= 14
⇒ Multiply both sides by 562 to get rid of the fraction and to isolate the variable <em>x</em>:
562 · = 14 · 562
⇒ Simplify:
x = 7868
<u>Answer:</u> 7868
<em></em>
<em>Hope this helps!</em> :)
Answer:
<u>Equation</u>:
<u>The balance after 5 years is: $1742.43</u>
<u></u>
Step-by-step explanation:
This is a compound growth problem . THe formula is:
Where
F is future amount
P is present amount
r is rate of interest, annually
n is the number of compounding per year
t is the time in years
Given:
P = 1500
r = 0.03
n = 12 (compounded monthly means 12 times a year)
The compound interest formula modelled by the variables is:
Now, we want balance after 5 years, so t = 5, substituting, we get:
<u>The balance after 5 years is: $1742.43</u>