What is the slope of the linear function?
1 answer:
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Answer:
$103968.11.
Step-by-step explanation:
Given information:
Principal amount = $240,000
Rate of interest = 1.2% = 0.012
Number of years = 30
Number of times in an year = 24
Formula for amount:
where,
P is principal, r is rate of interest, t is number of years, n is number of times interest compounded in a year.
Now,
Hence, the interest is $103968.11.
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Hi my lil bunny!
❧⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯☙
Answer =
=
Steps :
Remove the parentheses :
Multiply the numbers :
Multiply the numbers :
Expand:
Apply the distributive law :
Simplify
=
Simplify
=
❧⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯☙
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Have a great day/night!
❀*May*❀
The value of home today is $ 424527.63
<em><u>Solution:</u></em>
Given that, Twenty years ago, Mr. Davis purchased his home for $160,000
Since then, the value of the home has increased about 5% per year
To find: Exponential function to find the value of home today
<em><u>The exponential growth function is given by:</u></em>
Where, "y" is the worth after "t" years
"a" is the initial amount
"r" is the rate of interest per year
From given information,
a = 160000
t = 20 years
Substituting the values we get,
Thus the exponential function is found
Let us find the value
Thus the value of home today is $ 424527.63