So close! But instead of adding the multiplication sign after the number you need to add them before. Good job though! :)
The amount you should deposit is $4709.18
Step-by-step explanation:
The formula for compound interest, including principal sum is
, where:
- A is the future value of the investment/loan, including interest
- P is the principal investment amount
- r is the annual interest rate in decimal
- n is the number of times that interest is compounded per unit t
- t is the time the money is invested or borrowed for
∵ You want to have $5000 in your savings account in 2 years
∴ A = 5000
∴ t = 2
∵ The account pays 3% annual interest, compounded monthly
∴ r = 3% = 3 ÷ 100 = 0.03
∴ n = 12 ⇒ compounded monthly
- Substitute these values in the formula above
∴ 
∴ 
∴ 
- Divide both sides by 
∴ P = 4709.18
The amount you should deposit is $4709.18
Learn more:
You can learn more about the compounded interest in brainly.com/question/2514241
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Answer:
C
Step-by-step explanation:
Mean is the average. To find mean, add all the numbers in a data set, then divide by the number of values.
Example: 1,2,3,4,5
Mean: 1+2+3+4+5= 15
Number of values: 5
15/5 = 3
Mean is 3
The average rate of change in the monthly rate per year is -$0.056 i.e decreases by 0.056 every consecutive year.
Step-by-step explanation:
Step 1; The initial value is $7.69 in 1980 and the final value is $6.13 in 2008.
Difference in values = Final value - initial value = $6.13- $7.69 = -$1.56 (the negative symbol indicates that the cost has gone down with time)
Period between the values =Final year - initial year = 2008 - 1980 = 28 years.
Step 2; To find the rate of change per year, we divide the difference in values in that given period of time by the number of years in that period.
Rate of change per year = Difference in values in that period/ no of years.
= -$1.56 / 28 = -$0.056 (the negative symbol indicates that the cost has gone down with time)
So for every year between 1980 and 2008, the price of the monthly rate for basic able TV reduced by $0.056.
Answer:
y = -12x + 3
Step-by-step explanation:
The slope-intercept form of an equation can be written as y = mx + b where m is the slope and b is the y-intercept. We are given both values, so we can plug them into the equation to get:
y = mx + b
y = -12x + 3
