Answer:
Step-by-step explanation:
20 can be written as a product of 4 and 5.
4 is a perfect square.
Square root of 4 is 2.
What is the Diference? Complete the equation
2 answers:
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So an exponential equation is gonna be used for this problem. The formula for such is 
, in which the a variable is the initial value and the b variable is the growth/decay rate.
For this situation, 1200 is gonna be your a variable since you've started out with it. And as for your b variable, its gonna be 107.3%, or 1.073, since it's increasing.
Your equation should look like this:
and from here just plug in 10 into the x variable and solve.
Multiply (1.073)^10 (don't round answers until the end), and take that answer and multiply it with 1200, your answer should be $2427.61.
For this situation, 1200 is gonna be your a variable since you've started out with it. And as for your b variable, its gonna be 107.3%, or 1.073, since it's increasing.
Your equation should look like this:
Multiply (1.073)^10 (don't round answers until the end), and take that answer and multiply it with 1200, your answer should be $2427.61.
Answer: 13.29%
Step-by-step explanation:
The formula to calculate the compound amount (compounded continuously) is given by :-
, where P is the principal amount , r is the rate of interest ( in decimal) and t is the time period.
Given : P= $ 35,000 , A= $257,000 and t=15 years
To find : r , we substitute all the values in the above formula , we get
Taking natural log on both the sides , we get
Hence, the annual interest rate = 13.29%