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kolezko [41]
1 year ago
6

Question 1 (Essay Worth 10 points)

Mathematics
1 answer:
zysi [14]1 year ago
4 0

$394.51 is future value of money after 2 years.

What future value means?

  • A current asset's future value (FV), which is based on an estimated rate of growth, is its value at a later time.
  • Investors and financial planners use the future value to project how much an investment made now will be worth in the future.

The method that results in more money after 2 years is Peggy's investment.

Which method results in more money in 2 years?

The formula for calculating the future value of an investment:

FV = P (1 + r)^nm

FV = Future value

P = Present value

R = interest rate

m = number of compounding

N = number of years

Future value of Larry's investment: $350 x [1 + (0.04/4)]^(4 x 2) = $379

Future value of Peggy's investment: $350 x [1 + (0.06/12)]^(12 x 2) = $394.51

Learn more about future value

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A city's population is 12,000 and grows at 2.6% rate. What will the population be after 25 years? A city's population is 230,000
Levart [38]

Answer:

The 12000 City would become 22,986 people, while the 230,000 city would become a population of 124,223.

Step-by-step explanation:

1st Part:

=12000⋅(0.026000000000000002⋅25)

=12000(2.718281828459045)(0.65)

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2nd Part:

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3 years ago
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4 0
3 years ago
Hong rented a truck for one day. There was a base fee of $20.95, and there was an additional charge of 90 cents for each mile dr
Goryan [66]

Answer: Hong drove the truck for 294 miles.

Step-by-step explanation:

Let m represent the number of miles for which he drove the truck.

There was a base fee of $20.95, and there was an additional charge of 90 cents for each mile driven. It means that the expression for the cost of driving the truck for m miles in a day is

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Hong had to pay $285.55 when he returned the truck. It means that

20.95 + 0.9m = 285.55

0.9m = 285.55 - 20.95

0.9m = 264.6

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m = 294 miles

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Angle MNO is formed by segments MN and NO on the following coordinate grid:
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Step-by-step explanation: Hope that helps ! I am not sure if  I am right but I think I am !

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