What’s the slope for this graphed? A.1/2 B.-2 C.2 D.-3
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After 4 interval of six months, Joe to earn same hourly rate as Blaine
<em><u>Solution:</u></em>
Given that,
Amount earned by Joe = $ 14 per hour
Amount earned by Blaine = $ 18 per hour
Lets assume the number of six month intervals be "x"
<em><u>Joe receives a raise of $1.75 every six months</u></em>
Therefore,
Joe earning: 14 + 1.75(number of six month intervals)
Equation for Joe earning: 14 + 1.75x ------- eqn 1
<em><u>Blaine receives a raise of $0.75 every six months</u></em>
Therefore,
Blaine earning: 18 + 0.75(number of six month intervals)
Equation for Blaine earning: 18 + 0.75x ------------ eqn 2
The number of six-month intervals it will take Joe to earn the same hourly rate as Blaine,
Eqn 1 must be equal to eqn 2
Thus after 4 interval of six months, Joe to earn same hourly rate as Blaine.
Answer:
B
Step-by-step explanation:
The compound interest formula is where:
- P is the starting amount called the principle
- r is the rat written as a decimal
- n is the number of times compounded in a year
- t is the number of years
Substitute a value into each variable to solve.
- P = $147 since 10% of 1,470 is being invested which makes P = 0.10(1470) = 147.
- The rate is 3.5% or r = 0.035.
- n = 12 because it is compounded monthly meaning 12 times a year.
- t = 25 since it will earn for 25 years.
Repeat this process for each formula.