For the first investment. A = P(1 + rt); where p = 9,720, r = 0.0316 and t = 1/12
A = 9720(1 + 0.0316/12) = 9720(1.0026) = $9,746
For the second investment,
A = 8140(1 + 0.0323 x 2) = 8140(1.0646) = $8,666
Total amount she had = $9,746 + $8,666 = $18,412
Answer:
989000
Step-by-step explanation:
Divide 2,967 ÷ 0.003
General exponential equation
y = A(1+r)^x
where
A = initial value
r = rate increase (+) or decrease (-)
x = time period of the change
y = projected value
y = 300(1.05)^x
in this problem, x = years after 2017
we want to find an x that makes the value more than or equal to 650
650 <= 300(1.05)^x
Answer: Check the attached
Step-by-step explanation:
