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2 years ago

13

A family spends $30,000 a year for living expenses. If prices increase by 5 percent a year for the next three years, what amount

will the family need for their living expenses after three years?

1 answer:

Juli2301 [7.4K]2 years ago

3 0

Answer:

The family will need $34500.

Step-by-step explanation:

1. 5% of 30000 is 1500.

2. 3 times 1500 is 4500.

3. Add 4500 and the starting amount.

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Beth will borrow $10,000 which earns 4% compound interest and she will repay that amount in 20 years. How much interest was earn

Serggg [28]

Answer:

$I=\$11,911.23$

Step-by-step explanation:

we know that

The compound interest formula is equal to

$A=P(1+\frac{r}{n})^{nt}$

where

A is the amount that she will repay

P is the amount borrowed

r is the rate of interest in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

$t=20\ years\\ P=\$10,000\\ r=0.04\\n=1$

substitute in the formula above

$A=10,000(1+\frac{0.04}{1})^{1*20}$

$A=10,000(1.04)^{20}$

$A=\$21,911.23$

Find out the interest

$I=A-P$

substitute the values

$I=\$21,911.23-\$10,000=\$11,911.23$

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3 years ago

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lina2011 [118]

Since it is to the nearest thousand, it would be 4.999

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Isabella worked 50 hours over the past two weeks, and she gets paid by the hour. During the first week of the two-week span, she

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A city wants to show that the mean number of public transportation users per day is more than 5,575. Identify the null hypothesi

jeyben [28]

Answer:

$H_0:\mu\leq 5575$

$H_a:\mu > 5575$

Step-by-step explanation:

Given : A city wants to show that the mean number of public transportation users per day is more than 5,575.

To Find : Identify the null hypothesis, $H_0$ , and the alternative hypothesis, $H_a$ , in terms of the parameter μ.

Solution:

Claim : A city wants to show that the mean number of public transportation users per day is more than 5,575.

So, Null hypothesis : $H_0:\mu\leq 5575$

Alternate hypothesis : $H_0:\mu > 5575$

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