Over time, compound interest at any rate will outperform simple interest. When the rates are nearly equal to start with, compound interest will be greater in very short order. Here, it takes less than 1 year for compound interest to give a larger account balance.
In 30 years, the simple interest will be
... I = P·r·t = 12,000·0.07·30 = 25,200
In 30 years, the compound interest will be
... I = P·(e^(rt) -1) = 12,000·(e^(.068·30) -1) ≈ 80,287.31
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6.8% compounded continuously results in more total interest
Y = mx + b
y - b = mx
(y - b) / x = m
so its : m = (y - b) / x.....or m = (y/x) - (b/x)
Answer:
time should be placed on the independent/y-axis
parking fee should be placed on the dependent/x-axis
Step-by-step explanation:
good luck.
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Answer:
$28.
Step-by-step explanation:
p(x) = -2(x - 9)^2 + 100
If the prices (x) = 15 dollars we work out the profit by substituting x = 15 in the above formula:
p(15) = -2(15 - 9)^2 + 100
= -2 * 6^2 + 100
= $28.
