Answer:
10
Step-by-step explanation:
5/x = 4/8
Cross multiply
4*x = 5*8
4x = 40
x = 10
Answer is 10
You are correct
Answer:
P = 1039.5
Step-by-step explanation:
Given:-
- The initial amount deposited, Po = 500
- The interest rate applied, I = 5% compounded annually
Find:-
- The amount on her bank statement after 15 years?
Solution:-
- We see that the principal amount increases every year and no transactions have been made in the course of 15 years.
The total amount left in her savings account would be given by the following formula:
P = Po * ( 1 + I/100 )^n
- Where, n = number of years passed since deposit. (15 years)
P = 500 * ( 1 + 5/100 )^15
P = 500 * (1.05)^15
P = 1039.5
I used Desmos to graph it but here are the coordinates used to graph it in the pictures below.