The future value (A) of a one-time investment of principal amount P at interest rate r compounded n times per year for t years is ...
... A = P(1 +r/n)^(nt)
Putting your given numbers into the formula, we have
... 876.34 = 300(1 +.06/4)^(4t)
Taking logarithms, this becomes the linear equation
... log(876.34) = log(300) + 4t·log(1.015)
Solving for t in the usual way, we get
... log(876.34) -log(300) = 4t·log(1.015) . . . . . . . subtract the constant term on the right
... (log(876.34) -log(300))/(4·log(1.015)) = t ≈ 18.00 . . . . divide by the coefficient of t
It will take <em>18 years</em> for the $300 CD to reach a value of $876.34.
Answer:
<h2>The easiest to solve for is x in the first equation</h2>
Step-by-step explanation:
Given the system of equation, x + 4 y = 14. and 3 x + 2 y = 12, to solve for x, we can use the elimination method of solving simultaneous equation. We need to get y first.
x + 4 y = 14............ 1 * 3
3 x + 2 y = 12 ............ 2 * 1
Lets eliminate x first. Multiply equation 1 by 3 and subtract from equation 2.
3x + 12 y = 42.
3 x + 2 y = 12
Taking the diffrence;
12-2y =42 - 12
10y = 30
y = 3
From equation 1, x = 14-4y
x = 14-4(3)
x = 14-12
x = 2
It can be seen that the easiest way to get the value of x is by using the first equation and we are able to do the substitute easily <u>because the variable x has no coefficient in equation 1 compare to equation 2 </u>as such it will be easier to make the substitute for x in the first equation.
Answer:
B
Step-by-step explanation:
