A snack stand sold hot dogs and chips at a recent game. The hot dogs cost $2.50 and the snacks cost $0.75. After the game, they
2 answers:
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It will take 54 days for Teri's account to earn an amount of $5000.
<h3>What is compound interest?</h3>Compound interest, also known as interest on principal and interest, is the practice of adding interest to the principal amount of a loan or deposit.
It occurs when interest is reinvested, or added to the loaned capital rather than paid out, or when the borrower is required to pay it, so that interest is generated the next period on the principal amount plus any accumulated interest. In finance and economics, compound interest is common.
It is given by formula
A =
where:
A is final amount
p is principal amount
r is rate of interest and
t, is time period
Given: A= $5000, p=$1500, r=2.25% = 0.0225
To find: time period to get compounded amount
5000=1500×
=
0.0225t = ㏑ ()
t = 53.5099 ≈ 54 days
Learn more about compound interest here:
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Answer: The slope is
Step-by-step explanation:
The slope of a line can be calculated with the following formula:
Observe the graph provided in the exercise.
You can notice that these two points are on the line:
and
Then you can identify that:
Knowing these coordinates, you can substitute values into the formula for calculate the slope.
Then, you get that the slope of the graph is: