Answer: $5,678.85
Step-by-step explanation:
First find out how much the fund was worth after 5 years.
Compound interest formula:
= Investment * (1 + rate) ^ years
= 4,000 * ( 1 + 11%)⁵
= £6,740.23
Half was removed:
= 6,740.23/2
= £3,370.12
Then compound this for the remaining 5 years:
= 3,370.12 * (1 + 11%)⁵
= $5,678.85
3! =3 x 2 x 1 = 6
Y!= Y x (y-1) x ... x 1=
Not sure what the question is
But 1/4 as a decimal gives us 0.25
Answer:
5. f(x) = 10,000 (1.5)^x
Step-by-step explanation:
We would have to multiply the original amount by 1.50^x because the initial amount would be 1, and 50% increase would be .5 so 1.5 and you raise it to the number of years to show the total increase.
Let's test it.
Initial:
10,000
After 1 year
10,000 + (.5*10000)
10,000 + 5000 = 15,000
After 2 years
15,000 + (.5*15000)
15,000 + 7500 = 22,500
Let's try our equation.
f(x) = 10,000 (1.5)^x
x = 2
10,000(1.5)^2
10,000(2.25) = 22,500
The same!
