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July 30, 2014

July 30, 2014

Posted by **Lyn** on Thursday, June 23, 2011 at 6:00pm.

1. Find the final amount of an investment if $2,000 is invested at an interest rate of 8% compounded quarterly for 8 years.

I used interest formula and came up with $1,769.08.

And then:

I = .08/4 = .02

N = 8(4) = 32

Amount= 2,000(.02)^32

= 8.59 ?

And then:

2000(1+0.08/4)^4 = 2164.86

2. Find the possible values for a, if the distance between the points is 17 and the coordinates of the points are (-4, a) and (4, 2)

D= √(4 - (-4))^2 + (2 - a)^2

I used the distance formula and it came out as an imaginary number..

- Algebra -
**Damon**, Thursday, June 23, 2011 at 6:09pmI = .08/4 = .02

N = 8(4) = 32

Amount= 2,000(.02)^32 ****NO****

Amount = 2,000(1.02)^32

= 3769.08

If you add 2% at every stage you multiply by 1.02 at every stage.

- Algebra -
**Damon**, Thursday, June 23, 2011 at 6:15pmd^2 = 17^2 = 289

289 = 8^2 + (2-a)^2

289 = 64 + 4 - 4a + a^2

a^2 - 4 a -221 = 0

(a-17)(t+13) = 0

a = 17 or a = -13

- Algebra -
**Lyn**, Thursday, June 23, 2011 at 9:22pmThank you very much, I was beyond stumped.

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