Answer:
Pierre is right
Step-by-step explanation:
The correct formula for Exponential growth rate is given as:
y = a( 1 + r) ^t
Where
y = Amount after time t
a = Initial amount
r = Growth rate
t = time
From the question
a = 300
r = 2% = 0.02
Hence, our exponential growth rate =
y = 300( 1 + 0.02)^t
y = 300( 1.02)^t
Therefore, Pierre is right
Answer:
12x9= 124
Step-by-step explanation:
if you multply it right
Answer:
Line 2 and Line 4 are perpendicular
Step-by-step explanation:
Line 2: y=1/5x−3
Line 4: y+1=−5(x+2)
Answer:
<u>The future value of the investment after 10 years is $ 29,240.53</u>
Step-by-step explanation:
1. Let's review the information given to us to answer the question correctly:
Principal = $ 17,500
Interest rate = 5.2% = 0.052 compounded semiannually
Time = 10 years = 20 semesters
2. What is the future value of the investment after 10 years?
Let's use the formula of the Future Value, to calculate it for this investment:
FV = P * (1 + r) ⁿ
Let's replace with the real values:
FV = 17,500 * (1 + 0.052/2)²⁰
FV = 17,500 * 1.670887521
<u>FV = 29,240.53</u>