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2 years ago

The graph to the right represents Mario's mile time in minutes,y, based

Mathematics

1 answer:

Mashcka [7]2 years ago

8 0

The line slopes downward. More specifically, as x increases, y decreases. Since x is the number of hours trained and y is the mile time, this must mean that the more Mario trains, the shorter his mile time gets.

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You find an interest rate of 10% compounded quarterly. Calculate how much more money you would have in your pocket if you had us

Elena-2011 [213]

Answer:

see the explanation

Step-by-step explanation:

we know that

step 1

The compound interest formula is equal to

$A=P(1+\frac{r}{n})^{nt}$

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

$r=10\%=10/100=0.10\\n=4$

substitute in the formula above

$A=P(1+\frac{0.10}{4})^{4t}$

$A=P(1.025)^{4t}$

Applying property of exponents

$A=P[(1.025)^{4}]^{t}$

$A=P(1.1038)^{t}$

step 2

The formula to calculate continuously compounded interest is equal to

$A=P(e)^{rt}$

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

e is the mathematical constant number

we have

$r=10\%=10/100=0.10$

substitute in the formula above

$A=P(e)^{0.10t}$

Applying property of exponents

$A=P[(e)^{0.10}]^{t}$

$A=P(1.1052)^{t}$

step 3

Compare the final amount

$P(1.1052)^{t} > P(1.1038)^{t}$

therefore

Find the difference

$P(1.1052)^{t} - P(1.1038)^{t}$ ----> Additional amount of money you would have in your pocket if you had used a continuously compounded account with the same interest rate and the same principal.