You deposit $2000 in an account that earns 5% annual interest compounded quarterly Find the balance after five years. Show work.
1 answer:
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We are given:
Our goal in solving for any variable, in this case is x, we need to isolate x on one side of the variable. Let's start by subtracting 7x from both sides, which will cancel the +7x on the right side. We are then left with:
Now, we want to move that +10 to the other side so our x is all by itself. Let's subtract 10 from both sides, which will cancel the +10 on the right leaving us with:
Since we cannot have a coefficient when solving for x, we need to divide both sides by -3.
When we divide, our answer is:
3 to the negative second power is written like this: 
.
When simplifying an expression with a negative exponent, you take a positive version of the exponent, in this case that would be 2, and apply that to the base.
After doing that, we have 9.
The next step is to put one over that number.
In this case, now after doing that the answer is
.
Hope this helps!
When simplifying an expression with a negative exponent, you take a positive version of the exponent, in this case that would be 2, and apply that to the base.
After doing that, we have 9.
The next step is to put one over that number.
In this case, now after doing that the answer is
Hope this helps!