The amount of money in a bank account that is compounded yearly can be represented by the function A(y) = P(1 + r)y, where P is
2 answers:
Answer:
The correct option is D. The interest is about 8%.
Step-by-step explanation:
The amount of money in a bank account that is compounded yearly can be represented by the function
Where P is the amount initially deposited, r is the annual interest rate expressed as a decimal, and y is the number of years that have passed since the initial deposit.
The initial amount is $2700, numbers of years is 14 and the amount after 14 years is $7930.42.
Taking log both sides.
Therefore the correct option is D. The interest is about 8%.
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Answer:
First of all, this question is not complete. So, we will be hypothetically create two accounts and try to choose the one with the greater profit.
Choice 1 = X = Final Amount after 12 years = $5600
Choice 2 = Y = Final Amount after 12 years = $6285.50
Hence, Lorena should choose choice 2, as it gives more profit over than choice 1.
Step-by-step explanation:
First of all, this question is not complete. So, we will be hypothetically create two accounts and try to choose the one with the greater profit.
Initial Deposit Amount = $3500
Time period = 12 years
Let's Suppose Lorena has two X and Y choices of accounts at H-town Bank.
X = simple interest of 5% over the initial amount for 12 years.
Y = Compound interest 5% over the initial amount for 12 years.
Solution:
Let's calculate the profit for choice 1 = X
Simple interest = 5%
Initial amount = $3500
Time period = 12 years
Formula = A = P (1 + rt)
where, A = Final amount after 12 years
t = time period in years = 12
P = initial amount to be deposited = $3500
r = annual interest rate = 5%
Plug in the values to get the total amount.
A = 3500(1+0.05x12)
A = $5600 = final amount Lorena will get after 12 years.
Let's calculate the profit for choice 2 = Y
Compound interest = 5%
Initial amount = $3500
Time period = 12 years
Formula = A = P
where,
A = Final amount after 12 years
t = time period in years = 12
P = initial amount to be deposited = $3500
r = annual interest rate = 5%
n = number of times interest rate is applied or compounded. = 12
Plug in the values to get the total amount.
A = P
A = $6285.50
Hence, Lorena should choose choice 2, as it gives more profit over than choice 1.
Answer:
it could be 1. c 2. a 3. d 4. b
or it could be the answers i did for last time in the pic: (that is my old account that got banned)
but i think the answers that are right are the ones i did rn of 1. c 2. a 3. d 4. b
Answer:
Step-by-step explanation:
The given rational function is
Let
Interchange x and y
Cross multiply
Expand
Solve for y;
or
Therefore