I believe that B is the answer bc -2-1 is -3 but with absolute value it it's 3, whish is the correct distance
The time it will take the principal to grow to the desired amount is 0.7 years
Using the compound interest formula :
A = P(1 + r/n)^(nt)
A = final amount = 225,000
P = principal = 180,000
r = rate = 3.12%
n = Number of compounding times per period = 12(monthly)
t = time
225000 = 180000(1 + (0.0312 /12))^(12t)
Divide both sides by 180000
225000/180000 = (1 + (0.0312 /12))^(12t)
1.25 = 1.026^12t
Take the log of both sides
0.0969100 = 0.0111473 × 12t
0.0969100 = 0.1337676t
Divide both sides by 0.1337676 to isolate t
0.0969100 / 0.1337676 = t
0.7244 years
0.7 years
It will take 0.7 years for the amount to grow
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If you used $8, then you must add 8 to 32 which equals $40
<u>Answer</u> i think the first one goes down by .3 every time but i am not 100$
Step-by-step explanation:
