admin admin
Franklin deposits $3500 in an account that earns 3.5% interest compounded

Franklin deposits $3500 in an account that earns 3.5% interest compounded annually. What function equation represents the balance of the account after t years?

2 months ago

Solution 1

Guest Guest #6876647
2 months ago
The formula can taken through the compounded interest formula:
A= P(1+r/n) to the power of n time t.

P = is the initial amount or the principal

r  = interest rate (annually)

t  = years or tenor of the deposit

A = total amount of money after the tenor

n  =  frequency of the compound

Solution 2

Guest Guest #6876648
2 months ago
I just learned this topic today so I am just telling you now that I could be wrong, as I am still trying to completely grasp it!


Use the formula y=b(1+r)^t to solve....

B= initial amount
R= rate

So what is your initial amount??? The initial amount is 3500, which makes your rate 3.5%. YOU MUST CHANGE YOUR PERCENT TO A DECIMAL! (0.035)

Plug in your work: f(t)3500(1+0.035)
Then REMEMBER TO SIMPLIFY! YOU CAN NOT FORGET THIS STEP, IF THIS IS FROM A QUIZ YOU WILL GET THE ANSWER WRONG IF YOU DO NOT!!! (Trust me, I know. I have to retake my quiz for this :o )

Do 1+0.035 and get 1.035

So, again plug in and I am pretty sure you should get the answer: f(t)=3500(1.035)^t

📚 Related Questions

Question
What is 1.69 x 10^-5 written in standard form
Solution 1
I believe(and i may be wrong), it's .0000169. forgive me if I'm wrong.
Question
When Louisa rented a moving truck, she agreed to pay $28 per day plus $0.42 per mile. If she kept the truck 3 days and the rental charges (without tax) were $153.72, how many miles did Louisa drive the truck?
Solution 1
166 miles because 

28*3= 84
153.72-84= 69.72
69.72/0.42= 166
Question
In a sale, normal prices are reduced by 20%. The normal price of a coat is reduced by £15
Solution 1
75 pounds. If 20 percent is 15 then 100 percent is 5*15
Question
A trapezoid has an area of 20 cm2 and a height z cm. The lengths of the parallel sides are (2z + 3) cm and (6z – 1) cm. Find the height, z, of the trapezoid. In your final answer, include all of the formulas and calculations necessary.
Solution 1
Area of a trapezoid = ½(a + b)h, where a and b are the lengths of the parallel sides and h is its height. 

From your information 20 = ½(2z + 3 + 6z – 1)z = ½(8z + 2)z = z(4z + 1) 

Solve 20 = 4z² + z which is 0 = 4z² + z – 20 using the quadratic formula 

Question
3.25 as a mixed number in simplest form.
Solution 1
3.25 is can be written by using 325/100, this is equal to 13/4 when reduced to the lowest terms.
Therefore 3.25 as a mixed number in simplest form is: 31/4
Good luck with your studies, I hope this helps~
Question
The sum of eight and a number is one hundred. What is the number? a.12.5 b.88 c.92 d.108
Solution 1
It is C. 92.

hope this helps you
Question
The number 2.31 is 2,200 times greater than 1.05 . Find the correct value of x and y.
Solution 1
D. x = 13 and y = 10
Question
If a graph of a set has an open circle on 1/2 and an arrow pointing to the right, then which of the following numbers is in the set? Please help :) 3/8 1/2 5/6
Solution 1

According to the question, if you graph this on a number line, it basically means any number that is greater than \frac{1}{2} (arrow points to the right is all numbers greater than).

Open circle means that \frac{1}{2} is not included.

So we are looking for the option that is greater than \frac{1}{2}.

If we divide the choices and make them decimal numbers, it is very easy to see which is the correct answer.

\frac{3}{8} =0.375

\frac{1}{2} =0.5

\frac{5}{6} =0.83

Clearly, \frac{5}{6} is greater than \frac{1}{2}. So third answer choice is correct.


ANSWER: \frac{5}{6}

Solution 2
5/6 would be the best answer beside the other 2 choices that you have
Question
How to check if an equation is always, sometimes, or never true
Solution 1
When you get the answer, for example you got x=3. And you think its not correct. You can always do a check. Replace the number with the given variable. And if you got both sides same then your answer is correct. For example after doing a check you got 5=5. Then you are right. And if you got 2=4 then you are wrong.
Question
Write the first 4 terms for this sequence t(n)=4.5n-8
Solution 1

The first 4 terms for the given sequence are -3.5, 1, 5.5 and 10.

What is an arithmetic sequence?

An arithmetic sequence is a sequence of numbers where the differences between every two consecutive terms is the same. The general form an arithmetic sequence is aₙ=a+(n-1)d.

The given sequence is t(n)=4.5n-8.

The first 4 terms for the sequence is

When n=1

t(1) =4.5×1-8

t(1) =-3.5

When n=2

t(2) =4.5×2-8

t(2) =9-8

t(2) =1

When n=3

t(3) =4.5×3-8

t(3) =13.5-8

t(3) =5.5

When n=4

t(4) =4.5×4-8

t(4) =18-8

t(4) =10

Therefore, the first 4 terms for the given sequence are -3.5, 1, 5.5 and 10.

To learn more about an arithmetic sequence visit:

brainly.com/question/10396151.

#SPJ2

Solution 2
Evaluate t(1),t(2),t(3),t(4)

t(1)=4.5(1)-8=4.5-8=-3.6
t(2)=4.5(2)-8=9-8=1
t(3)=4.5(3)-8=13.5-8=5.5
t(4)=4.5(4)-8=18-8=10

the first 4 terms are
-3.6,1,5.5, 10

📂 Subjects

Mathematics 2647929
History 842281
English 748681
Biology 586256
Social Studies 406852
Chemistry 368373
Business 348603
Physics 324927
Health 199835
Spanish 130075
Geography 112100
Computers and Technology 106146
Arts 77164
Advanced Placement (AP) 23675
World Languages 23213
French 22589
Engineering 19607
Law 17108
Medicine 13966
SAT 10987
German 3389

🔢 Grades

High School 3423409
Middle School 2092250
College 1518097