Answer:
Exponential Growth, 1200(1.15)
Step-by-step explanation:
It is a Growth function because it is "increasing" yearly. The equation is multiplying with 1.15 because when it is increasing, you need to add 1 to the percentage rate.
Answer:
6.3°
Step-by-step explanation:
Answer: ( 2 + 3 ) ( 8d )
Step-by-step explanation:
There are multiple possible answers and I'm not sure if you're missing part of the question.
Correct me if I am incorrect.
Answer:
5% = 8
Step-by-step explanation:
Since 10% of a number is 16, multiply that by 10 to get 160. In order to get 5%, divide 10% (16) by 2 to get 8, which is 5% of 160.
Answer:
FV= $3,716.32
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $3,500
Interest rate (i)= 1.2% compounded monthly
<u>First, we need to determine the monthly nominal interest rate:</u>
Monthly interest rate= 0.012/12= 0.001
<u>Now, to calculate the future value after 't' months, we need to use the following formula:</u>
FV= PV*(1 + i)^t
<u>For example, for 60 months:</u>
FV= 3,500*(1.001^60)
FV= $3,716.32
