What is the interest earned on $20,000 for five years, at an interest rate of 3% compounded daily?
1 answer:
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Answer:
x = -2
y = -1
(-2, -1)
General Formulas and Concepts:
<u>Pre-Algebra</u>
- Order of Operations: BPEMDAS
- Equality Properties
<u>Algebra I</u>
- Solving systems of equations using substitution/elimination
- Solving systems of equations by graphing
Step-by-step explanation:
<u>Step 1: Define systems</u>
y = x + 1
3x + 3y = -9
<u>Step 2: Solve for </u><em><u>x</u></em>
<em>Substitution</em>
- Substitute in <em>y</em>: 3x + 3(x + 1) = -9
- Distribute 3: 3x + 3x + 3 = -9
- Combine like terms: 6x + 3 = -9
- Isolate <em>x</em> term: 6x = -12
- Isolate <em>x</em>: x = -2
<u>Step 3: Solve for </u><em><u>y</u></em>
- Define original equation: y = x + 1
- Substitute in <em>x</em>: y = -2 + 1
- Add: y = -1
<u>Step 4: Graph systems</u>
<em>Check the solution set.</em>
