Answer:
$14,644.63
Step-by-step explanation:
To solve this problem we can use the compound interest formula which is shown below:
<em>P = initial balance </em>
<em>r = interest rate </em>
<em>n = number of times compounded annually </em>
<em>t = time </em>
<em />
First change 12% into a decimal:
12% -> -> 0.12
Lets plug in the values:
Tammy will own $14,644.63 after 8 years,
The solution to the system of equations is (8, -4)
<h3>How to solve the system?</h3>The system of equations is given as;
y = -1/4x - 2
y = 3/8x - 7
See attachment for the graph of the equations
From the attached graph, we have the point of intersection to be
(x, y) = (8, -4)
Hence, the solution to the system of equations is (8, -4)
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