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Chapter 4 Solutions
Algebra and Trigonometry (MindTap Course List)
- Depreciation Once a new car is driven away from the dealer, it begins to lose value. Each year, a car loses 10% of its value. This means that each year the value of a car is 90% of the previous year’s value. If a new car was purchased for $20,000, the value at the end of the first year would be $20000(0.90) and the value of the car after the end of the second year would be $20000(0.90)2. Complete the table shown below. What will be the value of the car at the end of the eighth year? Simplify the expression, to show the value in dollars.arrow_forwardAn Uncertain Investment Suppose you invested 1300 in the stock market two years ago. During the first year the value of the stock increased by 12%. During the second year, the value of the stock decreased by 12%. How much money is your investment worth at the end of the two-year period? Did you earn money or lose money? Note: The answer to the first question is not 1300arrow_forwardAllan invested $10,000 in a mutual fund. If the interest rate is 5%, how much will be in the account in 15 years by each method of compounding? compound quarterly compound monthly compound continuouslyarrow_forward
- Compound Interest Use the formula A=P1+rnnt to calculate the balance A of an investment when P=$3000, r=6 and t=10years, and compounding is done (a) by the day, (b) by the hour, (c) by the minute, and (d) by the second. Does increasing the number of compoundings per year result in unlimited growth of the balance? Explain.arrow_forwardDepreciation A tool and die company buys a machine for $175,000 and it depreciates at a rate of 30 per year. (In other words, at the end of each year the depreciated value is 70 of what it was at the beginning of the year.) Find the depreciated value of the machine after 5 full years.arrow_forwardLending Money For a certain loan, the interest I due at the end of a loan period is given by I=Prt, where P is the principal barrowed, r is the yearly interest rate as a decimal, and t is the number of years since the money was barrowed. What interest is accrued if 3 years ago we barrowed 5000 at an interest rate of 5%?arrow_forward
- Megan invested $21,000 in a savings account. If the interest rate is 5%, how much will be in the account in 8 years by each method of compounding? a. compound quarterly b. compound monthly c. compound continuously.arrow_forwardNoah invests $3,600 for two years. The account pays 0.43% monthly compound interest. To the nearest cent, what's the total that will be in Noah's account after two years? $________ (i asked this question before but it was not answered)arrow_forwardI need help with the 4th and 5th questions.arrow_forward
- An investment grows by 1.2 times in the first year, by 1.3 times in the second year, then drops by a factor of .87 in the third year. By what overall factor does the value change over a three year period? The value ______(increases or decreases), by ___________? times over a three year period.arrow_forwarding 2021 Mock STAAR Algebra 1- Day 2 CALCULATOR • COLOR THEME Q Q ZOOM O ADD NOTE O QUESTION GU 0. A bank account earning annual compound interest was opened, and no additional deposits or withdrawals were made after the initial deposit. The balance in the account after x years can be modeled by b(x) = 850(1.025)* The initial balance of the account was $1,025. Which statement is the best interpretation of one of the values in this function? The balance in the account at the end of one year is $850. The balance in the account increases at a rate of 2,5% each vear. The initial balance of the account decreases at a rate of 97.5% each year. CLEAR ALL ( PREVIOUS NEXT > REVIEW & SUBMIT 24 ... Sign out Ovi 8:15 -> %23 %24 & bac 8. e y i tab W d f g CVb n hift ctrlarrow_forwardIf $11,000 is invested at 6% interest compound monthly, find the interest earned in 18 years. The interest earned in 18 years is $_________.arrow_forward
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