Julian is a manager at a clothing store for teens. He is analyzing the order for next season. Data for the previous 10 years sug
2 answers:
You might be interested in
Answer:
$57,369
Step-by-step explanation:
We have been given that an amount of $53,000 is placed in an investment account that grows at a fixed rate of 2% (compound growth) per year. We are asked to find the amount in the account after 4 years.
To solve our given problem we will use compound interest formula.\
, where,
A = Final amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Let us convert our given rate in decimal form.
Upon substituting our given values in compound interest formula we will get,
Therefore, an amount of $57,369 will be in the account after 4 years.
We can use the Pascal's Triangle to solve this problem. This pascal's triangle is shown in the figure below. To build the triangle, begin with the number 1 at the top, then continue placing numbers below it in a triangular pattern. In this way, each number are the numbers directly above added together. So, the expression:
Can be extended as follows, for n = 10:
So, the 8th term of the binomial expansion is:
