At the time of her grandson's birth, a grandmother deposits $12,000.00 in an account that pays 2% compound monthly. What will be that value of the account at the child's twenty-first birthday, assuming that no other deposits or withdrawls are made during the period.
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A(t) = P(1+(r/n))^(nt)
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A(21) = 12000(1+(0.02/12))^(12*21)
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A(21) = 12000(1.5214)
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A(21) = #18,257.15
We have two equations that were solved by Nikki and Jonathon:
Equating the above two:
⇒ 1.3x + 1.6 = -2.7x + 3.2
⇒ 4x = 1.6
⇒ x = 0.4
Hence, substituting the value of x in one of the equations we get:
y = 1.3×0.4 + 1.6 = 2.12
So the solution is (0.4, 2.12)
Jonathon's solution was (0.4, 2.12) and Nikki's was (2.25, 0.5). Hence Jonathon gave the correct solution.
Answer:
Step-by-step explanation:
the answer of 2-8 is 6 2-8=6
Answer:
Step-by-step explanation:
Answer: The two answers are 1.08<em>T</em> and (1 + 
)<em>T</em>.
Step-by-step explanation:
Try multiplying 1.08 times any random number. If you use 5, 1.08 times 5 gives you 5.4. This makes sense. Solve the other other expression as well and substitute <em>T</em><em> </em> with the SAME number that you used before (5). Hope that helps!
