Olivia is going to invest $32,000 and leave it in an account for 15 years. Assuming the interest is compounded monthly, what int
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Step-by-step explanation:
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For this case, the first thing to do is find the equation of the line in order to model the problem mathematically.
Using Excel (see attached image) we find that the equation of the line is:
y = 0.0035x - 3
We evaluate for:
For x = 7000:
y = 0.0035 * (7000) - 3
y = 21.5 $
For x = 10000
y = 0.0035 * (10000) - 3
y = 32 $
For x = 13000
y = 0.0035 * (13000) - 3
y = 42.5 $
Answer:
The total water cost when the barber shop uses 7,000 gallons, 10,000 gallons, and 13,000 gallons is:
21.5 $, 32 $, 42.5 $, respectively.
Using Excel (see attached image) we find that the equation of the line is:
y = 0.0035x - 3
We evaluate for:
For x = 7000:
y = 0.0035 * (7000) - 3
y = 21.5 $
For x = 10000
y = 0.0035 * (10000) - 3
y = 32 $
For x = 13000
y = 0.0035 * (13000) - 3
y = 42.5 $
Answer:
The total water cost when the barber shop uses 7,000 gallons, 10,000 gallons, and 13,000 gallons is:
21.5 $, 32 $, 42.5 $, respectively.