If you simplify each side of the equation you get this y= -4 - 3x/5
Yes, percent is a number.
Answer:
P = 2000 * (1.00325)^(t*4)
(With t in years)
Step-by-step explanation:
The formula that can be used to calculated a compounded interest is:
P = Po * (1 + r/n) ^ (t*n)
Where P is the final value after t years, Po is the inicial value (Po = 2000), r is the annual interest (r = 1.3% = 0.013) and n is a value adjusted with the compound rate (in this case, it is compounded quarterly, so n = 4)
Then, we can write the equation:
P = 2000 * (1 + 0.013/4)^(t*4)
P = 2000 * (1.00325)^(t*4)
