Deposit $625 into a money market account with a 5% rate for 1 year would result in more money.
<h3>The interest rate of the bank</h3>
To do this, we make use of 1.50% interest rate
<h3>The exponential
growth equation</h3>
Here, we have:
Initial, a= 625
Rate, r = 1.5%
The exponential growth equation is
A(t) = a * (1 + r)^t
So, we have:
A(t) = 625 * (1 + 1.5%)^t
Evaluate
A(t) = 625 * 1.015^t
Hence, the exponential growth equation is A(t) = 625 * 1.015^t
<h3>The
value in 25 years</h3>
Here, t = 25.
So, we have:
A(25) = 625 * 1.015^25
Evaluate
A(25) = 906.84
Hence, the value in 25 years is $906.84
<h3>The investment with more money</h3>
<u>#Investment A</u>
a = 625
r = 1.5%
t = 5
So, we have:
A(5) = 625 * 1.015^5
Evaluate
A(5) = 673.3
<u>#Investment B</u>
a = 625
r = 5%
t = 1
So, we have:
A(1) = 625 * 1.5^1
Evaluate
A(1) = 937.5
By comparison, 937.5 is greater than 673.3
Hence, deposit $625 into a money market account with a 5% rate for 1 year would result in more money.
Read more about exponential growth equation at:
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Decimal 2.75
withdrawals are when cash is taken out from the account
Flora withdraws an amount of $75 at a time from her bank account
she makes 7 such withdrawals
one withdrawal she takes out - $75
then seven withdrawals leads to - $75 x 7 = $525
then overall change in her account has been a net withdrawal of $525
so the overall change in the account is -$525
Answer:
c = 15 ft
Step-by-step explanation:
a^2 + b^2 = c^2
9^2 + 12^2 = c^2
c^2 = 225
c = √225
<u>c = 15 ft</u>
Answer:
A = 25
Step-by-step explanation:
Base = |-2-(-7)| = |-2+7| = 5
equation of the line that includes the base
x = 6 (because it is parallel to y axis)
the height passes to the point (-4,-4) and must be perpendicular to the base
the equation of the line of the base hasn’t the slope expressed, so the line of the height has a slope equal to 0
so the equation of the line is y= -4
the point (6,-4) is where the two lines intercept and it is the point where the height hit the base
height = |-4-6| = 10
A = (base x height)/2 = (5x10)/2 = 25
