Pls help I need a lot ive failed this 3 times I can't fail again ahhh please help
1 answer:
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The amount you should deposit is $4709.18
Step-by-step explanation:
The formula for compound interest, including principal sum is
, where:
- A is the future value of the investment/loan, including interest
- P is the principal investment amount
- r is the annual interest rate in decimal
- n is the number of times that interest is compounded per unit t
- t is the time the money is invested or borrowed for
∵ You want to have $5000 in your savings account in 2 years
∴ A = 5000
∴ t = 2
∵ The account pays 3% annual interest, compounded monthly
∴ r = 3% = 3 ÷ 100 = 0.03
∴ n = 12 ⇒ compounded monthly
- Substitute these values in the formula above
∴
∴
∴
- Divide both sides by
∴ P = 4709.18
The amount you should deposit is $4709.18
Learn more:
You can learn more about the compounded interest in brainly.com/question/2514241
#LearnwithBrainly
Answer:
or
(depending on your teacher's format preference)
Step-by-step explanation:
<h3><u>Proportionality background</u></h3>Proportionality is sometimes called "variation". (ex. " 'y' varies inversely as 'x' ")
There are two main types of proportionality/variation:
- Direct
- Inverse.
Every proportionality, regardless of whether it is direct or inverse, will have a constant of proportionality (I'm going to call it "k").
Below are several different examples of both types of proportionality, and how they might be stated in words:
y is directly proportional to x
y is directly proportional to x squared
y is directly proportional to x cubed
y is directly proportional to the square root of x
y is inversely proportional to x
y is inversely proportional to x squared
From these examples, we see that two things:
- things that are <u>directly proportional</u> -- the thing is <u>multipli</u>ed to the constant of proportionality "k"
- things that are <u>inversely proportional</u> -- the thing is <u>divide</u>d from the constant of proportionality "k".
In our question, y is inversely proportional to x, so the equation we're looking at is the following .
It isn't yet clear what the constant of proportionality "k" is for this situation, but we are given enough information to solve for it: "When y=12, x=5."
We can substitute this known relationship pair, and find the "k" that relates this pair of numbers:
<h3><u>Solving for k, and finding the general equation</u></h3>General Inverse variation equation...
Substituting known values...
Multiplying both sides by 5...
Simplifying/arithmetic...
So, for our situation, k=60. So the inverse proportionality relationship equation for this situation is .
The way your question is phrased, they may prefer the form: