When Frederick was born, his grandparents gave him a gift of 2000, which was invested at an interest rate of 5% per year, compounded yearly. How much money will Frederick have when he collects the money at the age of 18? Give your answer to the nearest hundredth of a dollar.
Answers
Answer:
Frederick collects the an amount of $4813.24 at the age of 18 out of which $2000 was the beginning amount.
Step-by-step explanation:
We are given the following information in the question:
Amount = 2000
Interest rate = 5%
The money is compounded annually or yearly.
Time = 18 years
Compound interest =
where P is the principal amount, r is the interest rate, t is the time in years and n is the number of compounding in a year.
Since, the money is compounded yearly we put n = 1.
Putting all the values, we get,
Thus, Frederick collects the an amount of $4813.24 at the age of 18 out of which $2000 was the beginning amount.
Answer:
$4813.24
Step-by-step explanation:
Five percent growth corresponds to multiplication by 1+5%=1.05. So, the amount of money Frederick will have in 18 years is 2000(1+.05)^18= $4813.24
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Someone help please someone who is good at geometry!!!!!
Answers
Answer:
thxs
Step-by-step explanation:
Answers
Answer:
Graph
Step-by-step explanation:
The simplest way to graph a linear equation is to make an x, y chart.
Plug in values for x ( 3 values for x works ), then find the y values and graph the cordinates.
Another way to graph the above line is to identify the slope and the y-intercept. Because the function is in slope-intercept form, we can readily see both ( slope intercept form is y= mx + b where m= slope and b= y-intercept )! So b= 75 and m= 15. So to graph the y-intercept, it is ( 0, b ) and just count the slope from that point!
Final answer:
To graph the equation y = 15x + 75, start by plotting the y-intercept (0,75). Then move 15 units up and 1 to the right from the intercept. Connect the points to create the graph.
Explanation:
To graph the equation y = 15x + 75, you need to recognize it as the linear equation in slope-intercept form, y = mx + b. In this equation, m (slope) is 15 and b (y-intercept) is 75.
Start by plotting the y-intercept which is at the point (0, 75) on the y-axis. Then, from that initial point, use the slope or 'rise over run,' to find the next points. Given the slope is 15 (or 15/1), you will go up 15 units and right 1 unit from the intercept to plot your next point. Continue this process until you have enough points to produce a straight line.
By connecting these plotted points, you create the graph of y = 15x + 75.
Learn more about Graphing Linear Equations
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