A customer deposits $500 in an account that pays 4% annual interest. What is the balance after 3 years if the interest is compounded annually?

Compound interest formula: V(t) =P(1+r/n)^nt

t = years since initial deposit
n= number of times compounded per year
r= annual interest rate (as a decimal)
P= initial (principa) investment
V(t) = value of investment after t years

The value of the investment V(t) after t years is $562.43

Step-by-step explanation:

Here, we are interested in calculating the balance V(t) after 3 years given the information in the question.

We are to use the given formula.

From the question;

V(t) = ?

P= $500

t = 3 years

r = 4% = 4/100 = 0.04

n = 1

Substituting these values into the formula, we have ;

V(t) = 500( 1 + 0.04/1)^(3)

V(t) = 500(1.04)^3

V(t) = 562.432

The correct option is;

The line of best fit is not reasonable because it has more points below it than above it.

Step-by-step explanation:

Here we note that there are a total of seven points in the scatter plot and there are five of the points below the line of best fit and just two above the line.

Of the five points below the line of best fit, four are just about touching the underside of the line while one of the two points above the line is just about touching the line.

The proper positioning of the line can be reviewed, therefore, with a line drawn through the four points presently touching the underside of the line of best fit.