$300 invested at 12% compounded monthly after a period of 1.5 years
1 answer:
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For this case, the first thing we must do is define variables.
We have then:
x: number of checks.
y: total cost.
We now write the linear function that represents the problem.
We have then:
Then, Jerome issues 10 checks in a month.
Therefore, we evaluate the function for x = 10.
We have then:
Answer:
a monthly checking account will cost him about:
y = 12.5 $
We have then:
x: number of checks.
y: total cost.
We now write the linear function that represents the problem.
We have then:
Then, Jerome issues 10 checks in a month.
Therefore, we evaluate the function for x = 10.
We have then:
Answer:
a monthly checking account will cost him about:
y = 12.5 $