Answer:
hes paid 13,640
Step-by-step explanation:
The seventh term of the sequence is
-1
—
25
She puts 8% of her salary in, so multiply her pay by 8% to get her yearly amount she saves:
45000 x 0.08 = $3,600 per year.
The company puts 6% of that in the account:
3600 x 0.06 = $216
So per year 3600 + 216 = $3,816 is saved.
3,816 x 2 = $7,632 is the 2 year total.
The answer is A.
Answer:
A) The annual multiplier was 1.0339; the annual increase was 0.0339 of the value.
B) 3.39% per year
C) $182,000
Step-by-step explanation:
A) Let's let t represent years since 1987. Then we can fill in the numbers and solve for r.
165000 = 100000(1 +r)^15
1.65^(1/15) = 1 +r . . . . . divide by 100,000; take the 15th root
1.03394855265 -1 = r ≈ 0.0339
The value was multiplied by about 1.0339 each year.
__
B) The value increased by about 3.39% per year.
__
C) S = $100,000(1.03394855265)^18 ≈ $182,000
