1. Which value of x satisfies the equation below?
2 answers:
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For this case we have the following functions:
We must findwhen
.
So:
We apply distributive property to the terms within parentheses taking into account that:
We add similar terms taking into account that different signs are subtracted and the sign of the major is placed:
Thus, we have to:
Then, with x = 2:
Equal signs are added and the same sign is placed.
Answer:
After 6 years the investment is $5555.88
Step-by-step explanation:
A principal of $3600 is invested at 7.5% interest, compounded annually. How much will the investment be worth after 6 years?
The formula used to find future value is:
where A(t) = Accumulated amount
P = Principal Amount
r = annual rate
t= time
n= compounding periods per year
We are given:
P = $3600
r = 7.5 %
t = 6
n = 1
Putting values in formula:
So, After 6 years the investment is $5555.88
Keywords: Compound Interest formula
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