Invested amount (P) = $300.
Time in years (t) = 2 years.
Balance after 2 years (A) = $329.49.
Let us assume rate of interest = r % compounds annually.
We know, formula for compound interest
Plugging values in formula, we get
Taking square root on both sides, we get
r=0.048.
Converting it into percentage by multiplying by 100.
r=0.048 × 100
r = 4.8 %
Therefore, the rate of interest on the account is 4.8% compounds annually.
Equations can be solved in several ways; one of these ways is the graphical method.
The number of commercials, x, and the number of movies, y, on which Naomi's songs were played are 5 and 2, respectively.
Let:
<em /><em> commercials</em>
<em /><em> movies</em>
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She earned a total of $300.
This is represented as:
Her songs were played on 3 more commercials than movies.
This is represented as:
See attachment for the graphs of
From the graph, the lines of both equations intersect at:
This means that:
<em />
<em />
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