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.
Answer:
Opposite of the hypotenuse
Step-by-step explanation:
In a right triangle the right angle (90 degrees) is opposite of the hypotenuse
Answer:
B (5, 13)
Step-by-step explanation:
9x + 4y = 97
9x + 6y = 123
To solve by elimination, we want to <em>eliminate</em> a variable. To do this, we must make one variable cancel out.
First, we can see that both equations have 9x. To cancel out x, we must make <em>one</em> of the 9x's <em>negative</em>. To do this, multiply <em>each term</em> in the equation by -1.
-1(9x + 6y = 123)
-9x - 6y = -123
This is one of your equations. Set it up with your other given equation.
9x + 4y = 97
-9x - 6y = -123
Imagine this is one equation. Since every term is negative, you will be subtracting each term.
9x + 4y = 97
-9x - 6y = -123
___________
0x -2y = -26
-2y = -26
To isolate y further, divide both sides by -2.
y = 13
Now, to find x, plug y back into one of the original equations.
9x + 4(13) = 97
Multiply.
9x + 52 = 97
Subtract.
9x = 45
Divide.
x = 5
Check your answer by plugging both variables into the equation you have not used yet.
-9(5) - 6(13) = -123
-45 - 78 = -123
-123 = -123
Your answer is correct!
(5, 13)
Hope this helps!
To work out the decrease, do original amount - new amount and then take that answer and divide it by the original amount, and then multiply by 100.
So you would do:
36.24 - 30.80 = 5.44
5.44 ÷ 36.24 × 100 = 15% to the nearest percent.
Answer:
15.5884572681
Step-by-step explanation:
