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Given:
a.) A company will need 1.8 million 5 years from now to replace some equipment.
b.) The account pays 5.25 percent interest, compounded annually.
We will be applying the Compounded Interest Formula:
Where,
A=final amount
P=initial principal balance/money to initially deposit
r=interest rate (decimal)
n=number of times interest applied per time period
t=number of time periods elapsed (in years)
In this scenario, we are asked what is the amount of principal balance/initial deposit to make to get 1.8 million in 5 years.
Annually = n = 1
We get,
Therefore, the answer is 1,393,676.52
80 x 3/10 = 240/10 = 24 times
Answer:
Equation = y = -4x+7
See the graph below
Step-by-step explanation:
The equation of the line in slope intercept form is expressed as;
y = mx+c
Given
slope m = -4
y-intercept c = 7
Substitute
y = -4x + 7
Get the x intercept.
at y = 0
0 = -4x + 7
4x = 7
x = 7/4
x = 1.75
The x coordinate (1.75, 0)
Get the y intercept
at x = 0;
y = -4(0)+7
y = 0+7
y = 7
The y coordinate is (0, 7)
<h2>ANSWER:</h2>
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Answer is x = 6
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<h2>EXPLANATION:</h2>
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We know that 7 - 1 is 6. 6 is what x equals because 7 - 1 is 6 and 6 + 1 is equal to 7.
Hope this helps!