Answer:
8.5 or 4.25 i think pretty sure its 8.5 tho
Step-by-step explanation:
This is an exponential decay problem.
Using the equation Y = a *(1-rate)^time
where Y is the future value given as 12,000 and a is the starting value given as 13,000.
The rate is also given as 5%.
The equation becomes:
12,000 = 13,000(1-0.05)^x
12,000 = 13,000(0.95)^x
Divide each side by 13000:
12000/13000 = 0.95^x/13000
12/13 = 0.95^x
Use the natural log function:
x = ln(12/13) / ln(0.95)
x = 1.56 years. ( this will equal 12,000
Round to 2 years it will be less than 12000.
Answer:
$8,500
Step-by-step explanation:
Interest = 5000 x 5 x 0.14
= 1000 x 0.14 x 25
= 140 x 25
= 3500
5000 + 3500 = 8500
Answer:
4.4
Step-by-step explanation:
