Ella invested $2,700 in an account paying an interest rate of 5.4% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to
the nearest year, for the value of the account to reach $4,020?

7.4 years

Step-by-step explanation:

This is a compound interest question, from the question, we know we are to find the time.

The formula for Time in compound interest =

t = ln(A/P) / n[ln(1 + r/n)]

Where:

A = Amount after time t = $4,020

P = Principle = Initial amount invested = $2700

r = Interest rate = 5.4% = 0.054

t = ??

n = compounding frequency = monthly = 12

t = ln(A/P) / n[ln(1 + r/n)]

t = In(4020/2700)/12[In(1 + 0.054/12)]

t = 7.388 years

Approximately = 7.4 years

c. y = 1/4 x + 5

step-by-step explanation:

first, put the equation of the line on the graph into slope-intercept form

(y = mx + b):   y = -4x + 8

second, a perpendicular line has to have "an opposite/reciprocal slope" to the original slope. so, find the "m" value in your original equation (it's -4, right? )

original slope: m = -4   perpendicular slope: change the sign to its opposite and find the reciprocal ("flip" the number)

new slope is now positive (b/c the original slope was negative 4), and it's 1/4 (not the original slope of 4 or 4/1)