An initial deposit of $900 earns 13% interest, compounded monthly. How much will be in the account in 7 1/2
2 answers:
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Answer:
See the image.
Step-by-step explanation:
Constant balance in a bank account signifies that the balance in the account remains constant throughout time.
That is, it did not rise or diminish with time.
As a result, the graph of such a circumstance is a horizontal line parallel to the Time period axis.
Hi! It will be a pleasure to help you finding the solution to this problem, so let's solve each part:
<h2>PART 1.</h2><h3>Finding the correct expression.</h3><h3>Correct answer:</h3>From the problem, we know the following data of the problem:
- Laval parked at the beach.
- Laval paid a fixed price of $4 for a pass.
- Laval paid $1.50 for each hour.
Our goal is to find the the expression for the total cost for parking at the beach for h hours. So:
Step 1: Since we have a fixed price, this value will appear in our expression:
Step 2: Since Laval paid $1.50 for each hour, this can be represented as the following expression:
Finally, we can write total cost (C) as the sum of these two expressions:
Finally, our correct option is A:
5 hours
Here we have to find how many hours Laval spent at the beach knowing that he paid a total amount of $11.50. From the previous part, we know that our expression is:
Finally, he spent 5 hours at the beach