The answer is $1,026.
Solving: Use Simple interest formula, I=Prt.
Make the rate into a decimal (1.6% -> 0.016)
plug in the numbers into the formula. 950 x 0.016 x 5 = 76$.
76$ will be our interest, now to find the balance we would have to add the the starting money (950) with our interest (76$), resulting in our answer of $1,026 after 5 years.
7 1/5 - 2 3/5 =
36/5 - 13/5 =
23/5 or 4 3/5 <==
It is a straight line in a graphical format.
You're just going to take exponents of 4. For example, 4 to the power of 1, 4 to the power of 2, 4 to the power of 3, and so on. To get the powers of 4, just multiply 4 by how much the exponent reads. For example 4 to the power of 3 is just 4 multiplied by itself 3 times.
4^1=4
4^2=16
4^3=64
4^4=256
4^5=1024
However, 1024 is greater than 1000 so we do not include it.
