Answer:
Interest in 3 years = $456.52
Step-by-step explanation:
As we know the the formula of compound interest
Total amount =
Here n = number of times amount is compounded
r = rate of interest
t = period
Here A = $2500
r = 0.0575
n = 1 (compounded annually)
t = 3 years
Therefore amount after 3 years
P =2500(1.0575)³
= 2500×1.18
= $2956.52
We have to calculate the interest then
Interest = $2956.52-$2500 = $456.52
So after 3 years interest gained = $456.52
Answer:
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Step-by-step explanation:
Answer:
The linear function is
Step-by-step explanation:
A linear function has the following format:
In which m is the slope and b is the y-intercept(the value of y when x = 0).
In the table, we have that when x = 0, y = 2
This means that . So
Finding the slope:
We take two points, and the slope is given by the change in y divided by the change in x.
Points (0,2) and (1,-1)
Change in y: -1 - 2 = -3
Change in x: 1 - 0 = 1
Slope:
So
