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Artyom0805 [142]
3 years ago
7

11,700 is invested in a compound interest account paying 3.9% compounded quarterly. How much will be in the account after 18year

s.
Mathematics
1 answer:
Misha Larkins [42]3 years ago
8 0
A=p(1+i/m)^mn
A=11,700×(1+0.039÷4)^(4×18)
A=23,527.94
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lesya [120]

9514 1404 393

Answer:

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  • new balance: $79,891.90

Step-by-step explanation:

The interest is found by multiplying the monthly rate by the balance on the loan. For the first month, the balance is the loan amount.

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The interest amount in the first payment is $532.97.

__

The amount of the first payment that goes to principal is what is left after the interest is paid:

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The new balance is the previous balance less the amount to principal:

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3 years ago
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Question 2
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Answer:

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y = mx+b

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b = y-intercept

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Now we plug it in to get the equation:

y=-3x-1

I hope this helped!

Sincerely,

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:D

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