Answer:
a) $3480
b) $4036.8
Step-by-step explanation:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Suppose that $3000 is placed in an account that pays 16% interest compounded each year.
This means, respectively, that
So
(a) Find the amount in the account at the end of 1 year.
This is A(1).
(b) Find the amount in the account at the end of 2 years.
This is A(2).
Step-by-step explanation:
The final balance is $12,088.87.
The total compound interest is $2,088.87.
When line is parallel to y axis
Answer:
Option 3 is the correct answer.
Step-by-step explanation:
In this graph the red area is above the line y = -1 which represents y ≥ (-1)
Another graph is of a line y = mx + c which passes through (2, -1) and (0, 0)
where m = (y-y')/(x-x') = (1+0)/(0-2) = -1/2
and y intercept c = 0
Therefore line is y = -1/2x
and the blue area will be y ≤ -1/2x below the line.
Hence Option 3 is the answer.