Answer:
$1,179
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
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First, lets change 2.6% into a decimal:
2.6% -> 
-> 0.026
Since the interest is compounded quarterly, we will use 4 for n. Lets plug in the values now:
The account balance after 10 years will be $1,179
=4m - 17+ 3m - 11
combine like terms
=(4m + 3m) + (-17 - 11)
=7m - 28
This can be factored/simplified by dividing everything by 7
=7(m - 4)
Hope this helps! :)
It is suppose to be letter d
Answer:
r = 1
Step-by-step explanation:
In this question, we have to solve for the vallue of "r". We will use the distributive property shown below to ease our process.
Distributive Property:
a(b+c) = ab + ac
Now, lets solve this:
As we have seen the value of r is "1"
