Ni is not correct. To solve
the equivalent quarterly interest rate, the annual interest rate should be multiplied
by the correct ratio. Since the annual interest rate is 4% per year. So in 1 quarter
is equal to 0.25 year.
<span>(4% / year) (0.25 year/ 1
quarter) = 1% per quarter</span>
Answer:
$6750 in the bank account and $20,250 in the stock fund
Step-by-step explanation:
If B is the money they put in the bank and S is the amount they put in the stock fund, then:
B + S = 27000
1.024 B + 1.072 S = 1.06 × 27000
Solving the system of equations:
1.024 (27000 − S) + 1.072 S = 28620
27648 − 1.024 S + 1.072 S = 28620
0.048 S = 972
S = 20250
B = 27000 − S
B = 6750
They should put $6750 in the bank account and $20,250 in the stock fund.
Answer:
y = 30(2)^x
Step-by-step explanation:
Initial deer population = 30 (in 2010)
Every year, deer population doubles ; this means there is an 100% increase in the population every year ;
Hence, using the exponential growth relation :
Final = initial * (1 + rate)^year
Here,
Final population y ; x years after 2010
Rate = 100% = 1
Hence,
y = 30(1 + 1)^x
y = 30(2)^x
Answer:
2 and 3.
Step-by-step explanation:
1 + 1
Factor out.
2(1)
Multiply.
= 2
1 + 2
Add the terms.
= 3
The answer is x=7. I hope this helps. Tell me if you need an explanation!
