This is an exponential decay problem.
Using the equation Y = a *(1-rate)^time
where Y is the future value given as 12,000 and a is the starting value given as 13,000.
The rate is also given as 5%.
The equation becomes:
12,000 = 13,000(1-0.05)^x
12,000 = 13,000(0.95)^x
Divide each side by 13000:
12000/13000 = 0.95^x/13000
12/13 = 0.95^x
Use the natural log function:
x = ln(12/13) / ln(0.95)
x = 1.56 years. ( this will equal 12,000
Round to 2 years it will be less than 12000.
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Answer:Id get it
Explanation:
Answer: $525
Step-by-step explanation:
The formula for Simple interest is calculated as PRT where
P = Principal = $7500
R = Rate = 3.5%
T = Time = 2 years
Interest = PRT
= 7500 × 3.5% × 2
= 7500 × 0.035 × 2
= $525
39 >-39 , |39| = |-39| there you go
