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can someone answer these questions please, i'm having trouble with them
See them in the picture attached.

Can Someone Answer These Questions Please Im Having Trouble With Them See Them In The Picture Attached class=

Sagot :

Silem2020

Answer:

1. $686.94

2. $735.03

3. $10707.55

4. $17631.94

5. $19635.72

Step-by-step explanation:

1st Question:

The interest rate is 7% for each year. This means that each year the person has to pay 7% more than the previous amount. So we need to multiply the initial amount by (0.07+1=1.07) in order to get the interest for the first year. if we want to find the second year's interests then we will have to multiply 2 (1.07)'s and so on.

in this case our function is: 600*(1.07)^t=P(t)

when t=2 P(2)=600*(1.07)^2=$686.94

2nd Question:

Function: 600*(1.07)^t=P(t)

when t=3 P(3)=600*(1.07)^3=$735.03

3rd Question:

initial value=$8500

1+0.08=1.08

Function: 8500*(1.08)^t=P(t)

t=3

P(3)=8500*(1.08)^3=$10707.55

4th Question:

initial value=$12000

1+1.08=1.08

t=5

Function: P(t)=12000*(1.08)^t

P(5)=12000*(1.08)^5=$17631.94

5th Question:

Function: 14000*(1.07)^t=P(t)

P(5)=14000*(1.07)^5

P(5)=$19635.72
Dang bro did it before me
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