I'm assuming there is probably a graph that goes with this problem so here is all the info I can give you with the four choices:
If it is -1/3, the line will go DOWN 1, over 3 (just count on the graph)
If it is 3, the line will go UP 3, over 1
If it is 1/3, the line will go UP 1, over 3
And if it it -3, it will go DOWN 3, over 1
(If the slope is 3 or -3, it would be quite steep compared to a slope of 1/3 or -1/3)
Hope that helps!
We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.
In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.
,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.
After substituting our given values in above formula we will get
Now we will solve for A
Therefore, after 5 years mutual fund is worth $6034.07.
Answer:
Looks like -6
Step-by-step explanation:
Answer:
two billion six hundred one million four hundred thousand seventy