Given:
Annual interest rate = r%
Growth factor : x = 1 + r
The below function gives the amount in the account after 4 years when the growth factor is x .
To find:
The total amount in the account if the interest rate for the account is 3% each year and initial amount.
Solution:
Rate of interest = 3% = 0.03
Growth factor : x = 1 + 0.03 = 1.03
We have,
Substitute x=1.03 in the given function, to find the total amount in the account if the interest rate for the account is 3% each year.
Therefore, the total amount in the account is 2431.31 if the interest rate for the account is 3% each year.
For initial amount the rate of interest is 0.
Growth factor : x = 1 + 0 = 1
Substitute x=0 in the given function to find the initial amount.
Therefore, 2250 was put into the account at the beginning.
It is C prob i need point lol i’m sorry
3/5x-5
I believe this is the expression that is described.
Answer:
D. A(n) = P + (n-1)i*P
Step-by-step explanation:
The formula to calculate the simple interest is:
Replace i by , then
SI = Pni
where n is the number of years.
So, for n-1 years, the simple interest is:
SI = P(n-1)*i
The Total amount is:
A(n) = P + (n-1)i*P
Set up a proportion:
4.1/22 = 12.3/x
Cross multiply:
4.1 * x = 22 * 12.3
4.1x = 270.6
Divide 4.1 to both sides:
x = 66