To do this problem, you gotta cross-multiply. SO,
multiplied by
12 times 14 = 168
21 times 3 = 63
Then the final answer is
Answer:
Leasing a car is the better option if they only want to keep it for a certain amount of years. This is because with leasing you are only paying the depreciation of the car instead of the buying price. Also, it benefits people that can't pay the down payment for the car.
Answer:
man that's hard good luck
The initial investment = $250
<span>annual simple interest rate of 3% = 0.03
</span>
Let the number of years = n
the annual increase = 0.03 * 250
At the beginning of year 1 ⇒ n = 1 ⇒⇒⇒ A(1) = 250 + 0 * 250 * 0.03 = 250
At the beginning of year 2 ⇒ n = 2 ⇒⇒⇒ A(2) = 250 + 1 * 250 * 0.03
At the beginning of year 3 ⇒ n = 3 ⇒⇒⇒ A(2) = 250 + 2 * 250 * 0.03
and so on .......
∴ <span>The formula that can be used to find the account’s balance at the beginning of year n is:
</span>
A(n) = 250 + (n-1)(0.03 • 250)
<span>At the beginning of year 14 ⇒ n = 14 ⇒ substitute with n at A(n)</span>
∴ A(14) = 250 + (14-1)(0.03*250) = 347.5
So, the correct option is <span>D.A(n) = 250 + (n – 1)(0.03 • 250); $347.50
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