You gotta round the be to 100,000
Answer: number of years that it will take for the balance to reach $120,000 is 42 years
Step-by-step explanation:
Initial amount deposited into the account is $4000. This means that the principal is $4000
P = 4000
It was compounded annually. This means that it was compounded once in a year. So
n = 1
The rate at which the principal was compounded is 8.4%. So
r = 8.4/100 = 0.084
Let the number of years that it will take for the balance to reach $120,000. It means that it was compounded for a total of t years.
Amount, A at the end of t years is $120,000
The formula for compound interest is
A = P(1+r/n)^nt
120000 = 4000(1 + 0.084/1)^1×t
120000/4000 = 1.084^t
30 = 1.084^t
t = 42 years
Point slope is y-y1=m(x-x1)
Keep y and x as they are (do not plug anything in for those).
Variable m is the slope.
x1 and y1 are part of the point, which is in (x, y) form.
With the information given, plug each into the equation.
m= 2 (It's the slope)
x1=-8
y1=5
Put these variables into the equation like this-
y-5=2(x--8)
The two negatives cancel out (between x and 8) so your final answer is-
y-5=2(x+8)
If you put them into to proportion
156/400 and then put a variable for the unknown x/1200
1200 divided by 400 = 3
156 times 3 = 468
468 order salad out of 1200
