What is the value of x?
1 answer:
You might be interested in
Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.
Step-by-step explanation:
The given is,
Investment = $ 8000
No. of years = 15 years
Interest rate, i = 3.1 %
( compounded monthly )
Step:1
For for calculating future value with compound interest monthly,
.................(1)
Where,
A = Future amount
P = Initial investment
r = Rate of interest
n = Number of compounding in a year
t = Time period
Step:2
From given values,
P = $8000
r = 3.1%
t = 15 years
n = 12 ( for monthly)
Equation (1) becomes,
A = $ 12728.48
Result:
Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.
The solution for equation is x = -6
<em><u>Solution:</u></em>
<em><u>Given equation is:</u></em>
We have to solve the equation
According to Bodmas rule, if an expression contains brackets ((), {}, []) we have to first solve or simplify the bracket followed by of (powers and roots etc.), then division, multiplication, addition and subtraction from left to right
Therefore, solve for brackets in given equation
Solve for terms in left hand side of equation
Move the variables to one side and constants to other side
Thus the solution for equation is x = -6