/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q26. Shelly鈥檚 investment of $3000 h... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 9: Q26. (page 597)

Shelly鈥檚 investment of $3000 has been losing value at a rate of 3% each year. What will her investment be worth in 6 years?

Short Answer

Expert verified

Shelly investment will be worth $2498.92 after 6 years.

Step by step solution

01

Step 1. Write the compound interest equation.

The compound interest equation is given by:

A=P1+rnnt, where A is the amount, P is the principal amount, r is the rate of interest, t is the time.

02

Step 2. Substitute the values. 

Shelly invested $3000 for 6 years into an account with a -3%interest rate compounded annually.

Substitute 3000 for P, -3for r, 1 for n and 6 for t into the formulaA=P1+rnnt.

A=P1+rnn鈥�路鈥�t=3000脳1鈭�0.0311脳鈥�6

03

Step 3. Simplify for A.

Simplify the equation for A.

A=P1+rnn鈥�路鈥�t=3000脳1鈭�0.0311脳鈥�6=3000脳0.976=$2498.92

Thus, Shelly investment will be worth $2498.92 after 6 years.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Record your answers on the answer sheet provided by your teacher or on a sheet of paper.

Use the graph of the quadratic equation shown below to answer each question.

A What is the vertex?

B What is they-intercept?

C What is the axis of symmetry?

D What are the roots of the corresponding quadratic equation?

Consider y=x2鈭�5x+4

Find the coordinates of the vertex. Is it a maximum or minimum point?

REASONING Provide a counterexample to the following statement. The vertex of a parabola is always the minimum of the graph.

Determine whether each trinomial is a perfect square trinomial. Write yes or no. If so, factor it.

4x2+28x+49

Solve each equation by completing the square. Round to the nearest tenth if necessary.

y2鈭�8y+16=36
See all solutions

Recommended explanations on Math Textbooks

Probability and Statistics

Read Explanation

Theoretical and Mathematical Physics

Read Explanation

Decision Maths

Read Explanation

Applied Mathematics

Read Explanation

Calculus

Read Explanation

Discrete Mathematics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.