The answer for the question is 4
One of the answers will be E, I don’t think there are others
4.8, I hope this helps you, I answered this earlier. :)
Answer:
B)$319
Step-by-step explanation:
Interest each year is 275 × 4% = 275 × 4/100 = 11
total interest over 4 years is 4 x 11 = 44
total to repay after 4 years is 275 + 44 = 319
Answer:
After 19 months,value in the account will reach $3700
Step-by-step explanation:
The value of a savings account f(t) in terms of t ( number of months since account opening) is given as ![\[3,500(1.003)^{t}\]](https://tex.z-dn.net/?f=%5C%5B3%2C500%281.003%29%5E%7Bt%7D%5C%5D)
We need to determine the value of t when f(t)>=3700
Expressing it in equation form,
![\[3,500(1.003)^{t} >= 3700\]](https://tex.z-dn.net/?f=%5C%5B3%2C500%281.003%29%5E%7Bt%7D%20%3E%3D%203700%5C%5D)
![\[=>(1.003)^{t} >= \frac{3700}{3500}\]](https://tex.z-dn.net/?f=%5C%5B%3D%3E%281.003%29%5E%7Bt%7D%20%3E%3D%20%5Cfrac%7B3700%7D%7B3500%7D%5C%5D)
![\[=>(1.003)^{t} >= 1.057\]](https://tex.z-dn.net/?f=%5C%5B%3D%3E%281.003%29%5E%7Bt%7D%20%3E%3D%201.057%5C%5D)
Taking log of both sides,
![\[=>t * log(1.003) >= log(1.057)\]](https://tex.z-dn.net/?f=%5C%5B%3D%3Et%20%2A%20log%281.003%29%20%3E%3D%20log%281.057%29%5C%5D)
![\[=>t >= \frac{log(1.057)}{log(1.003)}\]](https://tex.z-dn.net/?f=%5C%5B%3D%3Et%20%3E%3D%20%5Cfrac%7Blog%281.057%29%7D%7Blog%281.003%29%7D%5C%5D)
![\[=>t >= 18.51\]](https://tex.z-dn.net/?f=%5C%5B%3D%3Et%20%3E%3D%2018.51%5C%5D)
So t = 19.