Use the points (1997, 13) and (2005, 22) to write the slope intercept form of an equation for the line of fit shown in the scatt
er plot. Round values to the nearest hundredth.
A. y=0.89x+1985.44
B. y=1.13x-2243.65
C. y=1.13x-2233.63
D. y=0.89x-1985.44
A. y=0.89x+1985.44
B. y=1.13x-2243.65
C. y=1.13x-2233.63
D. y=0.89x-1985.44
1 answer:
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For each situation, we have that:
11) Using compound interest, it is found that she needs to invest $9,781.11 now.
12) Using the future value formula, it is found that you will have $728,753 after 48 years.
<h3>What is compound interest?</h3>The amount of money earned, in compound interest, after t years, is given by:
In which:
- A(t) is the amount of money after t years.
- P is the principal(the initial sum of money).
- r is the interest rate(as a decimal value).
- n is the number of times that interest is compounded per year.
For this problem, the parameters are given as follows:
A(t) = 15000, t = 4, r = 0.055, n = 2.
Hence we solve for P to find the amount that needs to be invested.
P = $9,718.11.
She needs to invest $9,781.11 now.
<h3>What is the future value formula?</h3>It is given by:
In which:
- P is the payment.
- n is the number of payments.
- r is the interest rate.
For item 12, the parameters are given as follows:
P = 150, r = 0.07/12 = 0.005833, n = 48 x 12 = 576.
Hence the amount will be given by:
V(n) = $728,753.
You will have $728,753 after 48 years.
More can be learned about compound interest at brainly.com/question/25781328
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