Use the compound interest formula LaTeX: A=P \left( 1+\frac{r}{n} \right)^{nt}A = P ( 1 + r n ) n t to complete this problem.

If you invest $3100 in an account that pays an annual percentage rate (APR) of 4%, and the interest is compounded monthly, what is the total amount of money that you would have at the end of 38 years?

(Round your answer to the nearest hundredth and do not include the dollar sign.)

5x + 3y = - 4

step-by-step explanation:

the equation of a line in standard form is

ax + by = c ( a is a positive integer and b, c are integers )

express the line first of all in slope- intercept form

y = mx + c ( m is the slope and c the y-intercept )

to calculate m use the gradient formula

m = ( y₂ - y₁ ) / ( x₂ - x₁ )

with (x₁, y₁ ) = (7, - 3) and (x₂, y₂ ) = (4, - 8)

m = = -

y = - x + c ← is the partial equation

to find c substitute either of the 2 points into the partial equation

using (4, - 8 ), then

- 8 = - + c ⇒ c = -

y = - x - ← in slope-intercept form

multiply all terms by 3 to eliminate the fractions

3y = - 5x - 4 ( add 5x to both sides )

5x + 3y = - 4 ← in standard form