Step-by-step explanation:
step 1. let's call the amount of money A, the initial amount P, the yearly rate r, the number of compounds per year n.
step 2. A = P(1 + r/n)^(nt)
step 3. A = 1600(1 + .03/12)^((12)(5)
step 4. A = 1600(1.0025)^(60)
step 5. A = $1858.59
Answer:
$ 1850
As it is simple interest, the interest will be same each year.
Interest = 2312.50 - 2081.25 = $ 231.25
The amount borrowed = 2081.25 - 231.25 = $ 1850
x=-4
X needs to be a number that when 3 is added to it, becomes -1. So, adding 3 to -4 gives you -1, therefore, x=-4. Hope this helped!
Let's solve ~ ☂
I hope it helps ~
