Answer:
$3,623.84 Exact answer without rounding | $3,623.85 ~ (Approximent Answer with rounding.)
Step-by-step explanation:
Compound Interest Has a Specific Formula:
This case is Exponential Growth.
Formula: y= ab^x
You need to set up the equation.
First we need to define the rate of growth meaning what do you have to do for the 6.5%.
You need to do 100% + 6.5% = 106.5%
You need to convert the percent to a decimal which will be 1.065
Now we need to start plugging things into our formula to solve.
Your initial Starting amount was $3000
So you need to have y=3000(b)^x
We now know that the rate of growth is 1.065 so the b would be 1.065
y=3000(1.065)^x
Our power to x is our 3.5 years.
Our Equation now:
y=3000(1.065)^3
Now you need to use a calculator to do this due to the amount of decimals and digits.
Remember pemdas when doing this!!!
The answer should result to $3,623.84 but if rounded then: $3,623.85
Hey. Why are you so worried. Here is the answer. There is a very small problem.It is that the decimal point is not added.
Answer:
The series
1 -0.5-2-3.5 -5-6.5-8-9.5-11-12.5-14-15.5 upto 12 terms
Step-by-step explanation:
<u><em>Step(i)</em></u>:-
Given series 1 -0.5 -2 +.........
we know that the sum of the sequence is called a series
The sequence is 1, -0.5, -2, -3.5,.....is in AP
a = 1 and the difference between the two terms is equal 'd' = -1.5
<u><em>Step(ii):-</em></u>
<u><em>adding 1.5 value of each term</em></u>
The series
1 -0.5-2-3.5 -5-6.5-8-9.5-11-12.5-14-15.5 upto 12 terms
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