Suppose your parents invest $20,000 in an account paying 5% interest compounded annually. what will the balance be after 10 yr?

$32,577.89

Step-by-step explanation:

Use the formula for amount after compound interest. A = P(1 + i)ⁿ

'P' is the principal, meaning starting amount. P = $20,000

'i' is the interest per compounding period in decimal form. Since the compounding period is annual, just like the interest rate is given as, i = 0.05. If  the compounding period was not annual: then i = r/c (annual interest rate divided by number of compounding periods in a year).

'n' is the number of compounding periods, or the number of times the interest increases. n = 10. Calculate 'n' using n = tc (number of years times number of compounding periods in a year). Since c=1, n = t. ('t' is the number of years).

'A' is the amount after 'n' years. We need to find A.

Use all of the numbers that we know for the variables, replace the variables with the numbers in the formula. Solve for 'A'.

A = P(1 + i)ⁿ

A = $20,000(1 + 0.05)¹⁰     Add inside brackets first

A = $20,000(1.05)¹⁰       Do (1.05)¹⁰ then multiply by 20,000

A = $32,577.89           Answer

Therefore the balance will be $32,577.89 after 10 years.

answer: a) (0,0), (1,1), (2,8), and (3,27).

step-by-step explanation:

0^3=0

1^3=1

2^3=8

3^3=27

in effect, the exponential equation for this would me y=3^x. each x-coordinate cubed is giving the y coordinate, so a is your answer : )