Vanessa wants to buy a cd for $500 that earns 3% apr and is compounded quarterly. the cd matures in 2 years. her interest earned will not be reinvested in the cd. what will vanessa's total interest earned be at the date of maturation? a. $30.00 b. $15.00 c. $60.00 d. $120.00

The correct answer is Choice A: 30.

To find the amount of interest, we have to use the formula for compounded interest.

It would be:  y = 500(1 + 0.03/4)^(8)

We divided the 3% by 4 because it is quarterly. We raised it to the 8th power, because it will be compounded 8 times (4 x 2).

The interest comes out to $30.80.

y = -2/3 (x+3) + 2

Step-by-step explanation:

use the point-slope form equation: y - y1 = m (x - x1)

plug in the point (-3,2) and slope -2/3 into the equation:

y - 2 = -2/3 [x - (-3)]

you can simplify it:

y - 2 = -2/3 (x+3)

and you can also put it in terms of y:

y = -2/3 (x+3) + 2