Answer:
The balanced amount is $3130.25.
Step-by-step explanation:
Given : Lily provider a loan of $2500 to David that had an annual interest rate of 4.6%.
To find : The balance after 5 years if it compounded yearly ?
Solution :
Using compound interest formula,
Where, P=$2500 is the principal
r=4.6%=0.046 is the interest rate
t=5 years
Substitute the values,
Therefore, the balanced amount is $3130.25.
Answer:
It is expected that linearization beyond age 20 will be use a function whose slope is monotonously decreasing.
Step-by-step explanation:
The linearization of the data by first order polynomials may be reasonable for the set of values of age between ages from 5 to 15 years, but it is inadequate beyond, since the fourth point, located at , in growing at a lower slope. It is expected that function will be monotonously decreasing and we need to use models alternative to first order polynomials as either second order polynomic models or exponential models.