Answer:
7.7%
Step-by-step explanation:
The true statement about the graph's slope is (c) Its slope is zero.
<h3>How to determine the true statement?</h3>
From the question, we have:
A horizontal line is at y = 2.5.
The horizontal line implies that the cost of lunch do not change
Horizontal lines have a slope of 0
Hence, the true statement about the graph's slope is (c) Its slope is zero.
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There are 52 weeks in a year ,so each week you put away $20 every week.It will take 100 weeks to reach $2,000.
Compound Interest is the interest that is <em>compounded on a particular sum of money or investment over a given period of time.</em>
- The interest for the first year is $1,576.25
- The sum of money after adding the original to the interest is $11,576.25
- The interest on the new total is $13,400.96
- Step 1: Find the interest for the first year.
The formula is given as:
A = P(1 + r/n)^nt
P = Principal = $10,000
R = Rate = 5%
n = 1
t = 1
First, convert R as a percent to r as a decimal
r = R/100
r = 5/100
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 10,000(1 + 0.05/1)^(1)(3)
A = 10,000.00(1 + 0.05)^(3)
A = $11,576.25
I = A - P
Hence:
I = $11,576.25 - $10,000.00
I (interest) = $1,576.25
-
Step 2: Add the interest to the original amount.
$10,000 + $1,576.25
= $11,576.25
-
Step 3: Determine interest in the new total
The formula is given as:
A = P(1 + r/n)^nt
P = Principal = $11,576.25
r = 0.05 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 11,576.25(1 + 0.05/1)^(1)(3)
A = 11,576.25(1 + 0.05)^(3)
A = $13,400.96
Therefore,
- The interest for the first year is $1,576.25
- The sum of money after adding the original to the interest is $11,576.25
- The interest on the new total is $13,400.96
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