Given:
Principal = $14850
Rate of interest = 4% compounded semiannually.
Time = 3 years
To find:
The amount after 3 years.
Solution:
Formula for amount is:
Where, P is principal, r is the rate of interest in decimal, n is the number of times interest compounded and t is the number of years.
The interest is compounded semiannually, so n=2.
Putting in the above formula, we get
On further simplification, we get
Therefore, the amount in the account after three years is $16723.51.
1. Take away the parentheses. x+2x+40+3x-50=15002
2. Add the X’s together.
x+2x+3x= 6x —> 6x+40-50=15002
3. Subtract 50 from 40.
40-50= -10 —> 6x-10=15002
4. Move -10 to the right hand side to make it positive.
6x=15002+10
5. Add 15002 and 10 together.
6x=15012
6. Divide 15012 by 6. Which makes the answer X=2502
Answer: If you borrow $900 over the course of six years at a 7% yearly interest rate. You will be charged $1350.65.
The rate of change basically refers to the slope of the line. In this case the slope is -1.5
We calculate the rise/run which results in -1.5