How much money will you have if you started with $1200 and put it in an account that earned 7.3% every year for 10 years?
1 answer:
So an exponential equation is gonna be used for this problem. The formula for such is 
, in which the a variable is the initial value and the b variable is the growth/decay rate.
For this situation, 1200 is gonna be your a variable since you've started out with it. And as for your b variable, its gonna be 107.3%, or 1.073, since it's increasing.
Your equation should look like this:
and from here just plug in 10 into the x variable and solve.
Multiply (1.073)^10 (don't round answers until the end), and take that answer and multiply it with 1200, your answer should be $2427.61.
For this situation, 1200 is gonna be your a variable since you've started out with it. And as for your b variable, its gonna be 107.3%, or 1.073, since it's increasing.
Your equation should look like this:
Multiply (1.073)^10 (don't round answers until the end), and take that answer and multiply it with 1200, your answer should be $2427.61.
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Answer:
a.
b. $37.50
Step-by-step explanation:
To find out how much the 5 were paying in total, we can add the bill and the tip. This gives us x + 10. Since there are 5 people and they are splitting the bill equally, the total amount would be divided by 5 to get the amount each person pays: . We already know the amount they each paid, as it is given as $9.50. Both expressions represent the same thing, do we can set them equal to each other:
Now, we can solve.
First, we can multiply by 5 on both sides to get:
47.5 = x + 10
And then subtract 10:
x = 37.5
This means the bill before the tip was $37.50