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jaideeplalli302
04.03.2020 •
Mathematics
Your grandmother has been putting $ 3 comma 000$3,000 into a savings account on every birthday since your first (that is, when you turned 1). The account pays an interest rate of 7 %7%. How much money will be in the account on your 18th birthday immediately after your grandmother makes the deposit on that birthday?
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Ответ:
there would be $102000 in the account.
Step-by-step explanation:
We would apply the future value which is expressed as
FV = C × [{(1 + r)^n - 1}/r]
Where
C represents the yearly payments on each birthday.
FV represents the amount of money
in your account at the end of 18 years.
r represents the annual rate.
n represents number of years or period.
From the information given,
r = 7% = 7/100 = 0.07
C = $3000
n = 18 years
Therefore,
FV = 3000 × [{(1 + 0.07)^18 - 1}/0.07]
FV = 3000 × [{3.38 - 1}/0.07]
FV = 3000 × 34
FV = $102000
Ответ:
The rate of change: 1/5
Initial value: (0,-1)
Step-by-step explanation:
The rate of change is easily 5/25, we just have to simplify it to 1/5.
To get the intial value, just subtract (2,9) by the rate of change twice.