Deposit $625 into a money market account with a 5% rate for 1 year would result in more money.
<h3>The interest rate of the bank</h3>
To do this, we make use of 1.50% interest rate
<h3>The exponential
growth equation</h3>
Here, we have:
Initial, a= 625
Rate, r = 1.5%
The exponential growth equation is
A(t) = a * (1 + r)^t
So, we have:
A(t) = 625 * (1 + 1.5%)^t
Evaluate
A(t) = 625 * 1.015^t
Hence, the exponential growth equation is A(t) = 625 * 1.015^t
<h3>The
value in 25 years</h3>
Here, t = 25.
So, we have:
A(25) = 625 * 1.015^25
Evaluate
A(25) = 906.84
Hence, the value in 25 years is $906.84
<h3>The investment with more money</h3>
<u>#Investment A</u>
a = 625
r = 1.5%
t = 5
So, we have:
A(5) = 625 * 1.015^5
Evaluate
A(5) = 673.3
<u>#Investment B</u>
a = 625
r = 5%
t = 1
So, we have:
A(1) = 625 * 1.5^1
Evaluate
A(1) = 937.5
By comparison, 937.5 is greater than 673.3
Hence, deposit $625 into a money market account with a 5% rate for 1 year would result in more money.
Read more about exponential growth equation at:
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Answer:
I need help to sooo yeah
Step-by-step explanation:
Soryy
over the week the daily low temputures in degrees Fahrenheit have been -4, 6.2, 18 1/2, -5.9, 21, -1/4, and 1.75. list these numbers in order from least to greatest
we have that
1/2=0.5
1/4=0.25
so
order from least to greatest
<h2>-5.9,-4,-1/4,1/2,1.75,6.2,18,21</h2>
6rp^3 is the greatest common factor. Take that out and see what's left.
= 6rp^3*(3r^4 -2r^2p^2 +5p) . . . . . factors no further
