7) At what interest rate would a deposit of $50,000 grow to $111,277 in 25 years with continuous compounding?
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Answer is (-7,5)
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Answer is (-7,5)
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Answer:
y = and x =
Step-by-step explanation:
To solve simultaneous equations, you need to have the number in front of both x's or y's the same. (signs doesn't matter)
To get -x to -10x we simply need to multiply the first equation by 10:
-x * 10 = -10x
-9y * 10 = -90y
16 * 10 = 160
-10x - 90y = 160
Now we can add the two equations:
-10x + 10x = 0
-90y + 20y = -70y
160 + 20 = 180
-70y = 180
70y = -180
7y = -18
y =
Now plug into the second equation:
10x + 20() = 20
10x - = 20
Move the over to the other side, making it a positive:
10x = 20 +
10x =
Divide both sides by 10:
x =
So y = and x =
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