Need help with this problem and a step by step explanation
1 answer:
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I worked it out in photo.
She pays $8,475
She pays $8,475
Hello from MrBillDoesMath!
Answer:s:
For #18, see attachment, "Scatterplot_18", where the data is plotted. It looks like choice J -- no association-- is the correct answer.
For #14 it looks like you had some confusion but are on the right track. The formula for compound interest is Amount = P(1+r)^n, where P if the Principal (initial investment), r is the yearly rate, and "n" is the number of years invested. In your case,
A = 1000 ( 1 + .02)^3 => as 2% = 2/100 = .02; n = 3 as money
invested for three years
A = 1000 (1.061208) =
$1061.21
This is the same answer you got but is NOT one of the choices. Hmmm.....
Thank you,
MrB
