2(1-x)=3(1+2x)+5how to solve this
2 answers:
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For this problem you are going to need to know the point-slope equation which is:
y-y₁=m(x-x₁)
Now, m=slope and the x and y values are given to us already, so now we just plug our variables into the formula.
It should look like this:
Since all they are asking for is for you to put it into a formula this will be your answer.
y-y₁=m(x-x₁)
Now, m=slope and the x and y values are given to us already, so now we just plug our variables into the formula.
It should look like this:
Since all they are asking for is for you to put it into a formula this will be your answer.
Invested amount (P) = $300.
Time in years (t) = 2 years.
Balance after 2 years (A) = $329.49.
Let us assume rate of interest = r % compounds annually.
We know, formula for compound interest
Plugging values in formula, we get
Taking square root on both sides, we get
r=0.048.
Converting it into percentage by multiplying by 100.
r=0.048 × 100
r = 4.8 %
Therefore, the rate of interest on the account is 4.8% compounds annually.