Answer:
0.06
Step-by-step explanation:
0.061 - 0.001 = 0.060 = 0.06
Answer:
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Step-by-step explanation:
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Answer:
The amount the $20.000 will be worth in 17 years at compound interest is $65068.443
Step-by-step explanation:
Here we have the Principal, P = $20,000.00
The annual interest rate, r = 7% = 0.07
Time , t = 17 years
Number of compounding period per year, m = quarterly = 4
The compound interest can be found from the following formula;
![Amount, \ A = P \left (1 + \frac{1}{r} \right )^{mt}](https://tex.z-dn.net/?f=Amount%2C%20%5C%20A%20%3D%20P%20%5Cleft%20%281%20%2B%20%5Cfrac%7B1%7D%7Br%7D%20%20%5Cright%20%29%5E%7Bmt%7D)
Therefore, by plugging the values of the equation parameters, we have;
![Amount, \ A = 20000 \left (1 + \frac{0.07}{4} \right )^{4 \times 17} = \$ 65068.443](https://tex.z-dn.net/?f=Amount%2C%20%5C%20A%20%3D%2020000%20%5Cleft%20%281%20%2B%20%5Cfrac%7B0.07%7D%7B4%7D%20%20%5Cright%20%29%5E%7B4%20%5Ctimes%2017%7D%20%3D%20%5C%24%20%2065068.443)
Therefore, the amount the $20.000 will be worth in 17 years at compound interest = $65068.443.
If it takes 3 hours at 30 km per hour than that 90 km total distance and at 45 km per hour that would mean that distance would be travelled in 2 hours. So the answer should be 2 hours