Answer:
$864.94
Step-by-step explanation:
So the amount of money over time can be given with an exponential function y=a(b)^x or more specifically y=a(1+r)^x where r is the growth rate (interest rate)
So the equation can be written as
where m represents the amount of money over time, P represents the principle amount, and t represents time in years. Since we're given the amount of interest paid and not the total amount which includes the initial amount borrowed you have to subtract P from the equation. This will give us the equation that we'll use to find the initial amount
where I represents the interest paid.
plug the values into the equation
The distance between these coordinates is 13.41
We know that the interest decreased by 29.3%, therefore
what was left now is simply just 70.7% of the original, therefore we divide
this by 0.707
rate = 7.7% / 0.707
rate = 10.89%
<span>So the rate was 10.89% 10 years ago</span>
Answer:
0.6b - 3c
Step-by-step explanation:
Multiply 0.2 and 3b
0.2 x 3b = 0.6b
Then multiply 0.2 and 15c
0.2 x 15c = 3c
We can't add these, 3c and 6b because they have different letters.
different letter vs. different letter =
don't add
different letter vs. normal number like 5 =
dont add
same letter vs. same letter =
add
normal number vs. normal number =
add
This all goes the same for dividing, subtracting, and multiplying
I hope this helped! :)
