Answer:
Mr. Martin's statement is correct.
Step-by-step explanation:
First we select a value of q that is less than 6:
q = 3
Then we <u>write the equation:</u>
And <u>solve for x</u>:
The solution is positive because x > 0.
--
Then we select a value of q that is not less than 6:
q = 9
Then we <u>write the equation:</u>
And <u>solve for x</u>:
The solution is negative because x > 0.
Round 15.92 to 16 and .85 to 1 16 plus 1 = 17
The value of the investment in 5 years is $5805.9
<h3>What is Interest ?</h3>
Interest is the amount earned over years for the amount invested.
It is given that
Principal = $5000
Rate = 3%
Compounded Quarterly
Time = 5 years
Amount = ?
The Amount is given by the formula
Amount = P( 1 + (r/n))ⁿˣ
Here n = t = time period for which the investment has been done.
Amount = 5000( 1+(3/4 * 100)⁴ˣ⁵
Amount = 5000 (1.16)
Amount = $ 5805.9
Therefore , The value of the investment in 5 years is $5805.9
To know more about Interest
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Answer:$11848.64
Step-by-step explanation:
Let 
be the principal.
Let 
be the amount after 
years.
Let be the time period.
Let 
be interest rate.
Given,
