Manny makes $8.75 an hour working at the video store. His paycheck shows that he worked 37.5 hours over the past week. How much
1 answer:
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Answer:
128.67 ft
Step-by-step explanation:
Let the height of the tower be x feet.
We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.
In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.
,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.
After substituting our given values in above formula we will get
Now we will solve for A
Therefore, after 5 years mutual fund is worth $6034.07.