Consider the following functions:
1 answer:
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Answer:
A = $8406.6
Step-by-step explanation:
Given:
Average rate
Initial cost of painting
Time
We need to find the final amount of painting at the end of a 20-year.
Solution:
Using Exponential Growth rate formula as:
----------(1)
Where:
A = Final amount
a = Initial amount.
r = Rate as a decimal.
t = Time.
Now, we substitute all given values in equation 1.
Substitute in above equation.
A = $8406.62
Therefore, value of the painting at the end of a 20-year A = $8406.6
<u>Answer with step-by-step explanation:</u>
We are given that Sam invested $48,000 at 6% interest and the rest at 10%. Given that he received $4,000 interest in one year, we are to find how much he invest at each rate.
Assuming the amount invested at 6% interest rate as , we can write it as:
So the amount invested at 6% = $20,000 and amount invested at 10% = (48000 - 20000) = $28,000