Answer:
30 years: 1.38
45 years: 2.07
65 years:2.99
Step-by-step explanation:
$1x0.046=0.046
0.046x30=1.38
0.046x45=2.07
0.046x65=2.99
this is assuming that it gets interest yearly and that they don't want the original amount included.
Answer:
A) 32
Step-by-step explanation:
I will assume the function is
f(x) = 32 (1.5)^x
This is in the form
y =a b^x
in which a is the initial value, b is the growth rate, x is the time
a =32, which is the initial population
b= 1.5, which means 1.5-1 = .5. which means it grows at a 50% increase
x = number of years
<span>Mrs.
Hanover borrows 1400 dollars at a rate of 5.5% per year.
She paid it within 8 months only, find the interest rate that she paid.
First let’s calculate the 5.5% rate per year
=> 1400 x 0.055
=> So in 1 year, she will 77 dollars as interest.
Now, in 1 year there are 12 months., let’s divide 5.5 by 12
=> 5.5 / 12 = 0.46 per month
=> 0.46 x 8 months = 3.67% in 8 months.
Now, let’s get the interest rate
=> 1 400 x 0.037
=> 51.8
</span>