Answer:
10.4%
Step-by-step explanation:
Sung Lee invests $3,000 at age 18.
He hopes the investment will be worth $6,000 when he turns 25, that is, after 7 years.
The interest compounds (Compound Interest). The formula for the final amount in a compound interest is:
where P = Principal (Amount invested) = $3000
A = final amount = $6000
R = rate
T = number of years = 7 years
This implies that:
Find the 7th root of 2:
=> R = 10.4%
Hence, the rate would need to be 10.4% for him to achieve his goal.
The value of the function is -20
Answer:
He must work additional 8 hours.
Step-by-step explanation:
Because 1550.00/20=7.75
217.00/7.75=28
28-20=8
So,an additional of 8 hours
Answer
option A
Step-by-step explanation:
just took the quiz