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Mila [183]
3 years ago
11

I’ve done this 3 different way and I’m still getting it wrong someone help I feel dumb

Mathematics
1 answer:
Olegator [25]3 years ago
4 0
<h3>Answer: 13,011.11 dollars</h3>

note: remember to take the comma out or ignore it. I put it in there to help make the number more readable

===========================================

Explanation:

Let x be the value of the sale in dollars.

x-1900 represents the leftover amount that is over 1900

eg: if x = 2200, then x-1900 = 2200-1900 = 300 is the the leftover amount

taking 9% of (x-1900) leads to the expression 0.09(x-1900) and this expression must be 1000 since this is the extra amount of money the salesman needs (he already has $1000 in base pay)

-------------

Solve for x

0.09(x-1900) = 1000

x-1900 = 1000/0.09

x-1900 = 11,111.11111 approximately

x = 11,111.11111 + 1900

x = 13011.1111

x = 13,011.11 rounding to the nearest cent

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$1500 is invested at a rate of 3% compounded monthly. Write a compound interest function to model this situation. Then find the
Marianna [84]

Answer:

<u>Equation</u>:  F=1500(1.0025)^{12t}

<u>The balance after 5 years is:  $1742.43</u>

<u></u>

Step-by-step explanation:

This is a compound growth problem . THe formula is:

F=P(1+\frac{r}{n})^{nt}

Where

F is future amount

P is present amount

r is rate of interest, annually

n is the number of compounding per year

t is the time in years

Given:

P = 1500

r = 0.03

n = 12 (compounded monthly means 12 times a year)

The compound interest formula modelled by the variables is:

F=1500(1+\frac{0.03}{12})^{12t}\\F=1500(1.0025)^{12t}

Now, we want balance after 5 years, so t = 5, substituting, we get:

F=1500(1.0025)^{12t}\\F=1500(1.0025)^{12*5}\\F=1500(1.0025)^{60}\\F=1742.43

<u>The balance after 5 years is:  $1742.43</u>

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