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Answer:
(1,1)
Step-by-step explanation:
we have
----> equation A
----> equation B
we know that
The solution of the system of equations is the intersection point both graphs
The intersection point both graphs is the point (1,1)
see the given graph
therefore
The solution is the point (1,1)
Remember that
if a ordered pair is a solution of a system of equations then the ordered pair must satisfy both equations of the system
<u><em>Verify</em></u>
Substitute the value of x=1 and y=1 in each equation and analyze the result
<em>Equation A</em>
---> is true
so
The ordered pair satisfy the equation A
<em>Equation B</em>
---> is true
so
The ordered pair satisfy the equation B
therefore
The ordered pair (1,1) is a solution of the system because satisfy both equations
We know the compound interest formula is given by
Now, we have been given that 24,000 is invested for 2 years with an APR of 6% and daily compounding. Thus, we have
On substituting these values in the above formula for the compound interest, we get
Therefore, the balance in the account after 2 years is 27059.7