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AysviL [449]
4 years ago
11

The total amount of money in a savings account after t years is given by the function A=1000(1.031)^t . How could this function

be rewritten to identify the monthly interest rate? What is the approximate monthly interest rate?
Mathematics
2 answers:
harina [27]4 years ago
5 0

Answer:

A = 1000 ( 1 + .031/12) ^(12t)

The approximate monthly interest rate is .2583 percent

Step-by-step explanation:

A=1000(1.031)^t

The formula for compound interest is given by

A = P(1 + r/n) ^ (nt)    

Take 1.031 and subtract 1

.031 is the yearly rate in decimal form

A = 1000 ( 1 + .031/12) ^(12t)

Change to a percent = 3.1 %

Divide by 12

3.1/12 = .2583333333(repeating)  %

This would be the monthly rate

Sladkaya [172]4 years ago
4 0

Hi There!

Step-by-step explanation:

Compound Interest: a = p(r/n + 1)^nt

Function: A=1000(1.031)^t

1.031 - 1 = 0.031 = 3.1%

a = 1000(0.031/12 + 1)^12t

a = 0.0025833333333333333333333333333333333333...

Answer:

0.002583...

Hope This Helps :)

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4 0
3 years ago
Sitting on a park bench, you see a swing that is 100 feet away and a slide that is 80 feet away. The angle between them 30°. Wha
Vedmedyk [2.9K]

Answer:

B:  50 feet

Step-by-step explanation:

Let A represents the location of the swing, B represents the location of bench and C represents the position of slide,

According to the question,

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By the cosine law,

AC^2=AB^2+BC^2-2\times AB\times BC\times cos 30^{\circ}

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6 0
3 years ago
A gymnastics school offered a special for enrollment where a new student could enroll for half the price after paying a $17.50 a
nata0808 [166]

Answer:

12 (p/2 + 17.50) = 750 equation can be used to get regular price of enrollment.

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8 0
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Answer:

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your welcome for the help :D

8 0
3 years ago
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