Joan has a stalk of celery that is 6 inches long. She cuts it into two pieces. Each piece is the same length. How long is each p
iece.
2 answers:
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Answer:
Step-by-step explanation:
Birth Rate in 1994 = 14.6 births per thousand population.
Birth Rate in 2004 = 14.32 births per thousand population.
A linear equation is of the form: y=mx+c
Where:
- x=years after 1994
- y=the birth rate
- m=Yearly Birth Rate
First, we determine the birth rate per year
Therefore, a linear equation that relates y in terms of x is of the form:
When x=0, y=14.6
14.6=-0.028(0)+c
c=14.6
Therefore, the linear equation that relates y in terms of x is:
We are asked to determine the present value of an annuity that is paid at the end of each period. Therefore, we need to use the formula for present value ordinary, which is:
Where:
Since the interest is compounded semi-annually this means that it is compounded 2 times a year, therefore, k = 2. Now we need to convert the interest rate into decimal form. To do that we will divide the interest rate by 100:
Now we substitute the values:
Now we solve the operations, we get:
Therefore, the present value must be $39462.50