your deposit $1500 in an account that pays 3% annual interest compounded daily. What is the balance after one year?
1 answer:
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For this case, we must find the equation of the line.
The generic equation of the line is:
The slope of the line is:
Substituting values we have:
Rewriting:
We now choose an ordered pair:
(xo, yo) = (0, 12)
Substituting values we have:
Rewriting the equation:
For 20 visits, we evaluate the equation when x = 20.
We have then:
Answer:
The discounted entrance fee is 1.5$. The total cost is 42$ after 20 visits
The generic equation of the line is:
The slope of the line is:
Substituting values we have:
Rewriting:
We now choose an ordered pair:
(xo, yo) = (0, 12)
Substituting values we have:
Rewriting the equation:
For 20 visits, we evaluate the equation when x = 20.
We have then:
Answer:
The discounted entrance fee is 1.5$. The total cost is 42$ after 20 visits