Answer:
P = 0.5Q - 20
Step-by-step explanation:
P = kQ + c
substitute Q = 60 , P = 10 into the equation
10 = 60k + c → (1)
substitute Q = 240, P = 100 into the equation
100 = 240k + c → (2)
subtract (1) from (2) term by term to eliminate c
90 = 180k ( divide both sides by 180 )
=
= 0.5 = k
substitute k = 0.5 into (1) and solve for c
10 = 60(0.5) + c
10 = 30 + c ( subtract 30 from both sides )
- 20 = c
then
P = 0.5Q - 20
Answer:
a)
The function that represents the value of the account at any time, t
b)
The total amount accrued, principal plus interest, from compound interest on an original principal of $ 5,500.00 at a rate of 3.75% per year compounded continuously over 6 years is $ 6,887.77.
Step-by-step explanation:
a. Write the function that represents the value of the account at any time, t.
The function that represents the value of the account at any time, t
where
A represents the Future Value
P represents the Principle (Initial Value)
r represents the Interest rate
t represents the time
b) What will the value be after 6 years?
Given
The principal amount P = $5500
Annual Rate r = 3.75% = 3.75/100 = 0.0375
Time Period t = 6 years
To Determine:
The total amount A = ?
Using the formula
substituting the values
$
Therefore, the total amount accrued, principal plus interest, from compound interest on an original principal of $ 5,500.00 at a rate of 3.75% per year compounded continuously over 6 years is $ 6,887.77.