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May 7, 2015

Homework Help: Algebra

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

I can not figure these out for the life of me. Any help is appreciated.

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..

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