Can someone explain me, which one is right, or what I did wrong??
1 answer:
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Answer:
See Explanation
Step-by-step explanation:
Given
The attached graph
Required
Point on the line
The options are not given. So, I will provide general answers.
To do this, we simply write out the coordinates that lie on the line.
Some of them are:
Answer:
$515.21
Step-by-step explanation:
Because you're compounding monthly, use the formula:
where A(t) is the amount after the compounding,
P = $500
r = .03 (always in decimal form!)
n = 12 (monthly is every month, and there are 12 months in a year) and
t = time in years
Filling in our given info:
which simplifies to
A(t) = 500(1 + .0025)¹² which simplifies to
A(t) = 500(1.0025)¹² which simplifies to
A(t) = 500(1.030415957) so
A(t) = $515.21