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Neko [114]
1 year ago
13

Algebraically manipulating the formula FV = P +Prt, find the time period in years (to the nearest whole year) it would take to q

uadruple (4 times) the initialdeposit of $1,000 at a simple interest rate of 5.5%.55 years61 years48 years37 yearsNone of these choices are correct.
Mathematics
1 answer:
ICE Princess25 [194]1 year ago
4 0

Answer:

55years

Explanation:

According to the given expression

FV = P +Prt

P is the initial deposit = $1000

FV is the future value = 4(1000) = $4000

r is the rate = 5.5% = 0.055

Required

Time t

Substitute the given values into the expression as shown;

FV = P +Prt

4000 = 1000 + 1000(0.055)t

4000 - 1000 = 55t

3000 = 55t

Swap

55t = 3000

t = 3000/55

t = 54.5years

t = 55years

This means it will take the deposit of $1000 55years to quadruple

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Answer:

Step-by-step explanation:

I understand it!  (But I'm a high school math teacher so it might be unfair!) ; )

Anyway you have 2 numbers.  You don't know what they are so we will call them x and y.  Our first statement says that these numbers multiply to equal 120.  So that first equation is

xy = 120

Our second statement says that they add to -22.  So that second equation is

x + y = -22

Now we need to find the 2 numbers.  We have 2 unknowns, x and y.  That means that we have to have 2 equations.  No more than 2 no less than 2.  Solve the first equation for y.  It doesn't matter which equation you pick and which variable you choose to solve for.  If you do the work correctly, you will get the correct answers either way.  Solving the first equation for y gives you:

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x+\frac{120}{x}=-22

Instead of finding a common denominator, we are going to eliminate x in the denominator altogether.  Do this by multiplying everything by x to get

x^2+120=-22x

Get everything on one side of the equals sign and factor:

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The combinations of x and y are:

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It doesn't matter which one is which.  They are not asking you to specifically define x and y.  They are asking you to find the numbers, and you did!

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