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nevsk [136]
2 years ago
6

If+you+invest+$100+at+an+interest+rate+of+15%,+how+much+will+you+have+at+the+end+of+eight+years?

Mathematics
1 answer:
svp [43]2 years ago
8 0

Answer:

$305.9022863 or $305.90 (rounded to 2 decimal places)

Step-by-step explanation:

It is a compound interest, meaning an interest accumulates on an initial amount every period. The formula  

A= P(1+R)^n

A= the total amount P=Initial amount       R= rate  n=time period

P=$100 R=15% or 0.15(decimal)  n=8 (years)  

A= 100 (1.15)^8

A= 100(3.059022863)

A=305.9022863

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The particle will be at rest when the velocity is 0, thus we solve the equation:

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The coefficients of this equation are: a = 2, b = -9, c = -18

Solve by using the formula:

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Substituting:

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We have two possible answers:

\begin{gathered} t=\frac{9+15}{4}=6 \\ t=\frac{9-15}{4}=-\frac{3}{2} \end{gathered}

We only accept the positive answer because the time cannot be negative.

Now calculate the position for t = 6:

undefined

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1 year ago
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Step-by-step explanation:

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On Monday, a local hamburger shop sold a combined total of 556 hamburgers and cheeseburgers. The number of cheeseburgers sold wa
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