Answer:
Initial amount;
2110.6
Common ratio;
0.0201
Equation;
Step-by-step explanation:
In this scenario, the month represents the independent variable x while the membership amount represents the dependent variable y.
The analysis is performed in Ms. Excel. The first step is to obtain a scatter plot of the data then finally inserting an exponential trend line to obtain the required equation.
The Ms. Excel output is shown in the attachment below. To obtain the initial amount we substitute x = 0 in the equation. On the other hand, the common ratio is the exponent in the equation.
Answer:
7.5 * 10^-4
Step-by-step explanation:
To express this, we will have to multiply 750 by the conversion unit
we have this as;
750 * 10^-6
750 = 7.5 * 10^2
so we have;
7.5 * 10^2 * 10^-6
= 7.5 * 10^(-6+2)
= 7.5 * 10^-4
Answer:
$2,226.96
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
<em>P = initial balance
</em>
<em>r = interest rate
</em>
<em>n = number of times compounded annually
</em>
<em>t = time
</em>
<em />
First, change 10% into its decimal form:
10% -> 
-> 0.1
Now lets plug in the values into the equation:
The final amount after 15 years is $2,226.96
