PLEASE HELP ME!!
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We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.
In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.
,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.
After substituting our given values in above formula we will get
Now we will solve for A
Therefore, after 5 years mutual fund is worth $6034.07.
The y-intercept (where x = 0) of the equation is at -20.
For every 60 the x runs, the y falls by -10. Use rise over run to determine the slope of the equation.
Slope-intercept form is determined by the following equation:
m is your slope, and b is your y-intercept.
Plug the slope and y-intercept into the equation.
For every 60 the x runs, the y falls by -10. Use rise over run to determine the slope of the equation.
Slope-intercept form is determined by the following equation:
m is your slope, and b is your y-intercept.
Plug the slope and y-intercept into the equation.