Question

NO LINKS!! URGENT HELP PLEASE!!!

Please help me with this chart!!

Answer 1

`\text{Table 1}\\\\\begin{array}c \cline{1-5}\text{Row} & \text{Multiplier} & \text{Equation} & \text{Table} & \text{Amount}\\\cline{1-5}1 & 1.12 & y = 23000(1.12)^\text{x} & \text{see Table2} & \text{A = }\$32313.34\\ & & & & \text{i = } \$9313.34\\\cline{1-5}2 & 1.06 & y = 23000(1.06)^\text{x} & \text{see Table3} & \text{A = }\$32625.94\\ & & & & \text{i = } \$9625.94\\\cline{1-5}\end{array}\\\\\text{A = final amount after 3 yrs}\\\text{i = total interest earned}\\\\`

`\text{Table 2}\\\\\begin{array}c \cline{1-2}\text{Years} & \$\\\cline{1-2}0 & 23000.00\\\cline{1-2}1 & 25760.00\\\cline{1-2}2 & 28851.20\\\cline{1-2}3 & 32313.34\\\cline{1-2}4 & 36190.95\\\cline{1-2}\end{array}`

`\text{Table 3}\\\\\begin{array}c \cline{1-2}\text{Semi-Annuals} & \$\\\cline{1-2}0 & 23000.00\\\cline{1-2}1 & 24380.00\\\cline{1-2}2 & 25842.80\\\cline{1-2}3 & 27393.37\\\cline{1-2}4 & 29036.97\\\cline{1-2}\end{array}\\\\\text{1 Semi-Annual Period = 6 months}\\\\`

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Step-by-step explanation:

For the 1st row, we have an interest rate of 12% compounded annually.

r = 0.12 and n = 1

The multiplier would be 1+r/n = 1 + 0.12/1 = 1.12 which is the value of b in the equation y = ab^x

The value of 'a' is the starting amount, so we have a = 23000

The equation goes from y = ab^x to y = 23000*1.12^x

Plug x = 0 through x = 4 into that equation to generate what is shown in table 2. Don't forget to round to the nearest cent, aka hundredth.

The table shows that we'll have $32313.34 in the account after 3 years elapse. The amount of interest is 32313.34-23000 = 9313.34 dollars.

To summarize what we'll have for row 1:

• multiplier is 1.12
• equation is y = 23000*1.12^x
• refer to table 2 for a table of values
• we have $32313.34 in the account after 3 years, and $9313.34 interest earned

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Nearly identical steps are followed for row 2.

We still have r = 0.12

This time we compound the money on a semi-annual basis. Therefore, we compound n = 2 times a year.

multiplier = 1 + r/n = 1 + 0.12/2 = 1 + 0.06 = 1.06

The equation would be y = 23000*1.06^x where x is the number of semi-annual periods. Refer to table 3 to see a selection of values.

If we want to know how much money is in the account after 3 years, aka 2*3 = 6 semi-annual periods, then,

y = 23000*1.06^x

y = 23000*1.06^6

y = 32625.939581888

y = 32625.94

The account will have $32625.94 inside it after 3 years.

Subtract off the deposit amount to figure out how much interest was earned.

32625.94 - 23000 = 9625.94

To summarize what we'll have for row 2:

• multiplier is 1.06
• equation is y = 23000*1.06^x
• refer to table 3 for a table of values
• we have $32625.94 in the account after 3 years (aka 6 semi-annual periods), and $9625.94 interest earned