Answer:
B. $25,069
Step-by-step explanation:
An interest of 6% per year, compounded monthly it means that he earns 6/12% = 0.5% of what he has invested every month.
If he invests x money what he will have the first month will be :
Money = x*(1+0.005)
The next month:
Money' = Money*(1+0.005) = x *(1+0.005)(1+0.005) = x* (1+0.005)^2
Therefore in this type of interest the formula is:
Money = x*(1+r)^n
Where:
x is the money invested the first time
r is the interest
n is the number of periods
For this problem:
x = what you have to find
r = 0.005
n = 3 years (1 period is 1 month) then the period is 36 months
Money = 30000
Replacing:
30000 = x * (1+0.005)^36
x = 25,069
Answer:
w = -1.5
Step-by-step explanation:
To solve for w in the question below;
3.4 w=−5.1
All we need to do is to divide both-side of the equation by 3.4
3.4 w/3.4 = −5.1/3.4
On the left-hand side of the equation, 3.4 at the numerator will cancel-out 3.4 at the denominator leaving us with just w, while on the right-hand side of the equation negative 5.1 will be divided by 3.4. That is
w = -5.1/3.4
w = -1.5
That pair of equations has no solution. The two equations have
no points in common. If you graph them both, you find that the
two lines are parallel and never cross.