$1,800 principal earning 5%, compounded annually, after 9 years
1 answer:
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Answer:
c = - 2
Step-by-step explanation:
Given inverse function
(5) = - 1 , then
f(- 1) = 5 , that is
- 2c + c(- 1) - (- 1)² = 5
- 2c - c - 1 = 5
- 3c - 1 = 5 ( add 1 to both sides )
- 3c = 6 ( divide both sides by - 3 )
c = - 2
Answer:
5.50 years
Step-by-step explanation:
A = P
A = final amount
P = initial principal balance
r = interest rate
n = number of times interest applied per time period
t = number of time periods elapsed
3178 = 2000(1+.086/2)^2t
t = 5.499904413