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svet-max [94.6K]
2 years ago
12

Matthew is going to invest in an account paying an interest rate of 5-5% compounded

Mathematics
1 answer:
maw [93]2 years ago
4 0

Answer: 86950

Step-by-step explanation:

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In the year 2019, Lee County used approximately 55 million gallons of water. Historical trends show that each year the water dem
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Answer:

Approximately 62 gallons of water will be used by Lee County by the year 2025.

Step-by-step explanation:

The amount, in millions gallons of water, spent by Lee County, in t years after 2019, is given by the following equation:

P(t) = P(0)(1 + r)^{t}

In which P(0) is the amount spent on 2019 and r is the increse rate, as a decimal.

In the year 2019, Lee County used approximately 55 million gallons of water.

This means that P(0) = 55

Historical trends show that each year the water demand is increasing by a rate of approximately 2.1%.

This means that r = 0.021

So

P(t) = P(0)(1 + r)^{t}

P(t) = 55(1 + 0.021)^{t}

P(t) = 55(1.021)^{t}

Approximately how many million gallons of water will be used by Lee County by the year 2025?

2025 is 2025 - 2019 = 6 years after 2019. So this is P(6).

P(t) = 55(1.021)^{t}

P(6) = 55(1.021)^{6}

P(6) = 62.3

Rounded to the nearest millions

Approximately 62 gallons of water will be used by Lee County by the year 2025.

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Third row: 5(3)-4; 11; (3,11)

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