Mai invested $7000 in a money-market fund that paid 6.2% simple interest . What was the value of her account at the end of 18 months?

Answers

Answer 1

Answer: The formula of simple interest is: I=PRT
Where:
I stands for Interest
P stands for Price (or Principle Amount)
R stands for Rate
T stands for Time (in years)
I=PRT
=7000×0.062×1.5
(6.2%= $(6.2)/(100)$ =0.062)
(18 months=12 months and 6 months=1.5 year)
=$651
$7000+$651=$7651
By the end of 18 months, Mai has $7651 in her account

Answer 2

Answer: Depends it could be 14812 if they want total value or just the interest would be 7812

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Answers

Answer:

y = $(1)/(3)$ x + 4

Step-by-step explanation:

the equation of a line in slope- intercept form is

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y = - 3x + 2 is in this form with slope m = - 3

given a line with slope m then the slope of a line perpendicular to it is

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300=400-350(3.2)^(-0.1x)

Answers

Answer:

$x=-10\log_(3.2)(2)/(7)$

Step-by-step explanation:

Given the equation $300=400-350\cdot (3.2)^(-0.1x)$

First, subtract 400 from both sides of the equation:

$300-400=400-350\cdot (3.2)^(-0.1x)-400\n \n-100=-350\cdot (3.2)^(-0.1x)$

Multiply the eequation by -1:

$100=350\cdot (3.2)^(-0.1x)$

Divide it by 350:

$(100)/(350)=(3.2)^(-0.1x)\n \n(2)/(7)=(3.2)^(-0.1x)$

This equation is equivalent to the equation

$\log_(3.2)(2)/(7)=\log_(3.2)(3.2)^(-0.1x)\n \n\log_(3.2)(2)/(7)=-0.1x$

Multiply it by -10:

$-10\log_(3.2)(2)/(7)=x$

Hence,

$x=-10\log_(3.2)(2)/(7)$

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Answers

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