Answer: $58,088.57
Step-by-step explanation:
The investment is compounded weekly so you need to change the parameters of the equation to a weekly figure:
Interest rate is yearly so:
= 3.75%/52
= 3.75/52% per week
Number of periods is 4 years so:
= 4 * 52
= 208 weeks
Future value in 4 years is:
= 50,000 * ( 1 + 3.75/52%)²⁰⁸
= $58,088.57
$500 - $200 = $300 dollars left.
$300 divided by $10 = 30 weeks.
Answer:
Yes
Step-by-step explanation:
To find the y intercept of this formula, you first need to convert it into slope intercept form.
x+y=1
y=-x+1
Here, the slope is negative 1 and the y intercept is (0,1). If you imagine the line with a slope of negative 1, it will indeed cross the x axis at (1,0). Hope this helps!
