Giving a brainlest to the right answer
1 answer:
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Answer:
1. 10.7 years
2. 17.0 years
3. 2nd option
Step-by-step explanation:
Use formula for compounded interest
where
A is final value, P is initial value, r is interest rate (as decimal), n is number of periods and t is number of years.
In your case,
1. P=$5745, A=2P=$11490, n=12 (compounded monthly), r=0.065 (6.5%) and t is unknown. Then
2. P=$5745, A=3P=$17235, n=12 (compounded monthly), r=0.065 (6.5%) and t is unknown. Then
3. <u>1 choice:</u> P=$5745, n=12 (compounded monthly), r=0.065 (6.5%), t=5 years and A is unknown. Then
<u>2 choice:</u> P=$5745, n=4 (compounded monthly), r=0.0675 (6.75%), t=5 years and A is unknown. Then
The best will be 2nd option, because $8032.58>$7936.39
we are given two points as
(3, 16) and (5, 10)
firstly , we will find slope
slope is m
so, we can use formula
now, we can plug points
we can plug it in y=mx+b
we get
now, we can select any one points
and find b
(3,16)
x=3 and y=16
we can find b
now, we can plug back b
and we get
so, equation is
and
...............Answer