Answer:
29.4118%
Step-by-step explanation
510 * x = 150
x = .2941176
multiply by 100 to get percent
29.4118
Very complicated problem, but thank goodness I have too much time and am a nerd.
Basically model 1st account as so.
Fv=pv(1+I)^N
Fv future value
Pv present value
I interest
N number years
So first equation is interest earned after 3 years
Y=5000(1+0.023)^3
Y=5353 (rounded up)
So we know that the interest earned is 5353-5000 which is 353.
Now Ronisha (clearly the name of a future investment genius) invests these 353$ in a new account.
Now remember we’re not solving for FV we’re cause we’re given that: 55.2$
However this is the interest earned not the future value. So if interest earned is fv - pv and we know pv
Fv - 353 = 55.2
Fv = 408.2$
So now we reuse the formula
408.2 = 353(1+0.032)^x
Now just solve for x:
First divide both sides by 353
1.156 = 1.032^x
Remember the log rule that states x=b^y is same as y=logb(x)
So using the same logic:
X= log1.032(1.156)
Use some kind of calculator for that where you can adjust log base. But you basically get:
X= 4.602
So Ronisha has to basically invest 5 years or 4.6 years which is 4 years and 7 months.
Omg nevermind, wait it’s simple interest….
Sorry here’s the simple solution. My bad, but I worked so hard on the top part I don’t want to delete it.
I=prt
Interest = principal * rate * time
I= 5000(0.023)(3)=345
Then just do the same but plug 55.2 for I
55.2 = 345(0.032)t
Now solve for t
55.2 = 11.04t
t= 5
As you can see, similar logic where ultimately it takes 5 years. But this “genius” Ronisha should’ve just done compounding interest (my first calculation) and gotten it done in 4.6 years. Almost 5 months faster.
Answer:
6 months
Step-by-step explanation:
Gym1
12 + 20m
Gym2
22m
Set them equal
12 +20m = 22m
Subtract 20 m from each side
12 +20m-20m = 22m-20m
12 = 2m
Divide by 2
12/2 = 2m/2
6 =m
Answer:in first part of equation add 10x and 3x (like terms)
13x-4.5=12x-1.1
move all terms containing x to left side of equation
13x-4.5-12x= -1.1
x-4.5= -1.1
Subtract 4.5 from both sides
x=3.4
Step-by-step explanation:
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