15 quarters to 3 dollars
1 answer:
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We have that every quarter, he will get an 0.8% interest rate. We also have that there will be 14*4=56 periods of repayment. We have that by the formula, if there are n periods and x% is the interest rate, the capital is multiplied by (100+x%)^n.
Suppose Micah invests x money. Then, we have that after 14 years, the capital available will be C=
. We have that C=18500$ and hence that 18500=x*1.562. Thus, solving for x we have that x=11841$.
Micah will need to invest only 11841$ in order to pay for his boat; this shows the importance of saving since he earns a lot of money, around 7k $.
Suppose Micah invests x money. Then, we have that after 14 years, the capital available will be C=
Micah will need to invest only 11841$ in order to pay for his boat; this shows the importance of saving since he earns a lot of money, around 7k $.
Answer:
B (2, 4)
Step-by-step explanation:
we know that
A relationship between two variables, x, and y, represent a proportional variation if it can be expressed in the form or
In a proportional relationship the constant of proportionality k is equal to the slope m of the line and the line passes through the origin
In this problem the constant of proportionality k is given and is equal to
so
The linear equation is given by
That means ----> the y-coordinate is two times the x-coordinate
therefore
The other point is B(2.4)
Because
For x=2, y=4
the y-coordinate is two times the x-coordinate