Which expression is equivalent to (-1/3)(6x + 15) -3 *
1 answer:
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The question describes a scenario of an increase of 3% every 6 months copounded monthly with a first term of 100.
To solve this question, we use the future value at compound interest formula noting that here 1 period is 6 months with monthly compounding (i.e. 6 compounding per period).
Recall that the future value at compound interest is given by
where: PV is the sale made in the first month = $100, r is the increase per period = 3%, t is the number of compounding every month = 6, n is the number of periods = 8 x 6 = 48 (8 periods of 6 months each).
Here, we added 1 to the number of period because we are interested in the first month after the fourth year.
to the nearest whole number.
Therefore, 128 kits was sold in the first month of this year.
To solve this question, we use the future value at compound interest formula noting that here 1 period is 6 months with monthly compounding (i.e. 6 compounding per period).
Recall that the future value at compound interest is given by
where: PV is the sale made in the first month = $100, r is the increase per period = 3%, t is the number of compounding every month = 6, n is the number of periods = 8 x 6 = 48 (8 periods of 6 months each).
Here, we added 1 to the number of period because we are interested in the first month after the fourth year.
Therefore, 128 kits was sold in the first month of this year.