Edgar accumulated $11,000 in credit card debt. If the interest rate is 30% per year and he does not make any payments for 3 years, how much will he owe on this debt in 3 years by compounding continuously?

= 1.38778e-141 which makes interest a large amount 139 million and 108 hundred thousand and fourhundred and four.

Step-by-step explanation:

The equation is A= P 1+ r/n ^nt

So we input for A = (11000) x 1.30/11000 ^ 36 x 3

= 1.38778e-141 which makes interest a large amount 139 million and 108 hundred thousand and fourhundred and four.

The formula used in the compound interest calculator is A = P(1+r/n)(nt)

A = the future value of the investment

P = the principal investment amount

r = the interest rate (decimal)

n = the number of times that interest is compounded per period

t = the number of periods the money is invested for

YearYear DepositsYear InterestTotal DepositsTotal InterestBalance

1$0.00$245,278.94    $11,000.00  $245,278.94    -  $256,278.94

2$0.00$5,714,529.54   $11,000.00$5,959,808.47  -$5,970,808.47

3$0.00$133,137,595.61 $11,000.00$139,097,404.08-$139,108,404.08

$27,055.63

Step-by-step explanation:

The formula for continuously compounded interest is:

where

F = future value

P = current principal value

r = annual interest rate as a decimal

t = time in years

In this problem, we are looking for F. We are given

P = $11,00

r = 30% = 0.3

t = 3

We use the formula to find F.

In 3 years, he will owe $27,055.63

me

step-by-step explanation:

(0,-3) see attached graph

step-by-step explanation:

a. to solve the system, graph the two equations.

x = y+3 becomes y=x-3 has m=1/1 and b=-3. start at (0,-3) on the y-axis and plot a point. then move up 1 unit and 1 unit to the right. plot a point and connect.

y=-4x+3 has m =-4/1 and b=-3. start at (0,-3) on the y-axis and plot a point. then move down four units and to the right 1 unit. plot a point and connect.

the solution is the point (x,y) where the two lines intersect. by the graph below it is (0,-3).

b. to solve by substitution, substitute y = -4x-3 into x= y+3

x= (-4x-3) +3

x=-4x

5x=0

x=0

now substitute x = 0 back in to find y.

y= -4(0)-3

y=0-3

y=-3

solution is (0,-3)

c. use elimination by adding the equations together.

x-y=3

4x+y=-3

5x=0

x=0

then substitute into one equation to find y.

y=-4(0)-3

y=-3