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.
Your numbers are all over the place, I will assume that you are saying that the slope is 13.
Looking at the formula for calculating slope/gradient, it is Rise/Run.
Rise/Run = y2 - y1 divided by x2 - x1. The reason for this is because if you minus one y value from the other y value you get the difference in values which is the rise, and if you minus one x value from the other x value you get the difference in value which is the run.
So by using this formula, you get:
(7 - 6) / (v - 9) = 13
Therefore 1/(v - 9) = 13
If you multiply both sides by (v-9), you get 1= 13v - 117
you rearrange it to 13v = 118
If you divide by 13, you get your answer = 9.0769
You can check your answer by putting this value back into the gradient formula.
(7-6)/(9.0769-9)
=13.004
Answer:
1. Slope =0.667/2.000=0.333
2.c-intercept = 5/1=5.00000
3.p-intercept=5/-3= -1.66667
So at the beginning, the friends eat 3 meat pies in total. So that leaves two meat pies left.
So basically, we divide the meat pies by the number of friends.
2/6 is 1/3
So each friend needs to eat 1/3 of a meat pie
