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Answer:
The exponential function is .
You will have $1,100.55 in the account after 2 years.
Step-by-step explanation:
Compound interest:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Deposit $1000 in a savings account that pays 4.8% interest compounded monthly.
This means that . So
This is the exponential function
How much will you have in your account after 2 years?
This is A(2). So
You will have $1,100.55 in the account after 2 years.
Answer:
The total earning of commission on sales of 85, 000 will be:
Step-by-step explanation:
- Total sales earning = 85,000
As salesperson earns 5% commission the first 70,000.
As the salesperson earns 7% commission on the sales over 70,000.
As 15000 is the sales earning on which he will get commission 7%.
Because
- 85,000 - 70,000 = 15000
So the 7% earning of salesperson will on 15000 will be:
Therefore, the total earning of commission on sales of 85, 000 will be: