When will social security checks be deposited for january 2022
1 answer:
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Answer:
Step-by-step explanation:
we know that
The compound interest formula is equal to
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
substitute in the formula above
Answer:
a)
b) 394 thousand = 394,000 people will be following the website in 2016
Step-by-step explanation:
Exponential equation for an amount:
The exponential equation for an amount after t years has the following format:
In which y(0) is the initial value and r is the growth rate, as a decimal.
A social media website had 350,000 followers in 2010. The number y of followers increases by 2% each year.
This means that:
a. Write an exponential growth function that represents the number of followers t years after 2010
In thousands:
b. How many people will be following the website in 2016?
2016 is 6 years after 2010, so this is y(6).
Rounding to the nearest thousand:
394 thousand = 394,000 people will be following the website in 2016