![geckos3411](/avatars/4163.jpg)
geckos3411
01.07.2019 •
Mathematics
Toni invests money into an account which pays a fixed rate of compound interest each year. the total value, ? v, of her investment after t years is given by the formula: v = 1350 x 1.04^t answer questions a & b a- how much money did toni invest in pounds b- what rate of compound interest is paid each year
Solved
Show answers
More tips
- S Science and Technology How to choose a home theater system?...
- H Health and Medicine Discover the Hidden Principles and Real Results of the Japanese Diet...
- C Computers and Internet Google Search Tips and Tricks: Everything You Need to Know...
- F Food and Cooking Experts Name Top 5 Healthiest Teas...
- F Food and Cooking From Latte to Espresso: Which Coffee Drink is the Most Popular on Earth?...
- F Food and Cooking How many stages of coffee roasting are there?...
- C Computers and Internet Porn Banner: What It Is and How to Get Rid Of It?...
- G Goods and services How to Choose a Coffee Maker? The Ultimate Guide for Coffee Lovers...
- C Computers and Internet How to Teach Older Generations to Work with Computers?...
- P Philosophy Unidentified Flying Object - What is the Nature of this Phenomenon?...
Answers on questions: Mathematics
- M Mathematics Solve the triangle.round to the nearest tenth B 15 A 10 C...
- M Mathematics When simplified, -x − x is:...
- M Mathematics Find the missing sides and angles....
- G Geography True or false? bogoslof s last eruption occurred more than 300 years after mount hood s last eruption.explain...
- E English What are elements of a body paragraph in a comparative essay? select four options. 1 details 2 evidence 3 examples 4 summary 5 thesis statement 6 topic sentence...
- B Biology Describe how wind is created by completing the paragraph below...
- P Physics Why are fuel cells used on space shuttles instead of batteries?...
Ответ:
a. $ 1,350
b. 4%
Step-by-step explanation:
a. Given function that shows the total value of Toni's investment after t years,
Initially, ( when he invested ),
t = 0,
Thus, the invested amount =
= 1350(1) = $ 1,350,
b. Since, the amount formula in compound interest,
Where,
P = Initial amount,
r = annual rate per period,
n = number of periods per period,
t = number of years,
Here, the amount is compounded annually,
i.e. n = 1,
By the given function,
By comparing,
r = 0.04 = 4%
Hence, 4% interest is paid annually.
Ответ:
Step-by-step explanation: