Answer: $4,365.10
Step-by-step explanation:
Ok, we know that:
The account starts with $2350
There is a simple interest of 3.75% (or 0.035).
Then after one year, the amount in the account will increase by 3.75%, this means that the amount will be:
$2350 + 0.035*$2350 = (1.035)*$2350.
After another year, we have the same increase (but applied to the new amount in the account):
(1.035)*$2350 + 0.035*(1.035)*$2350. = (1.035)^2*$2350
And so on.
You already can see the pattern here, the amount of money in the saving account after N years will be:
M(N) = $2350*(1.035)^N.
Now we can answer:
what is the balance of the account if it earns a simple interest of 3.75% for 18 years?
Just replace N by 18 in that equation:
M(18) = $2350*(1.035)^18 = $4,365.10
ANSWER :
The center-radius form of the circle equation is in the format (x – h)2 + (y – k)2 = r2, with the center being at the point (h, k) and the radius being "r". This form of the equation is helpful, since you can easily find the center and the radius.
I'm guessing this is a slope problem, so the equation would be like this: y = mx + b where m is the slope and b is the y-intercept.
Using this,
Which is equal to,
