Answer:
7 years 11 months
Step-by-step explanation:
The future value formula for the value of a principal P invested at annual rate r compounded n times yearly for t years is ...
FV = P(1 +r/n)^(nt)
For the given numbers, we want to find t:
6000 = 3700(1 +.062/2)^(2t)
Dividing by 3700 and taking the logarithm, we get ...
6000/3700 = 1.031^(2t)
log(60/37) = 2t·log(1.031)
Dividing by the coefficient of t gives ...
t = log(60/37)/(2log(1.031)) ≈ 7.92 . . . . . years
It will take about 7 years 11 months for the investment to grow to $6000.
The variables are the number of handbags and the time.
Answer:
He paid $1.11
Step-by-step explanation:
2.50 * 0.4 (he paid for 40% of the original price, since it was a 60% discount) = 1
1 * 0.11 (11% sales tax) = 0.11
1 + 0.11 = 1.11
Answer:
y=29
Step-by-step explanation:
Replace x with 7:
y=8+3(7)
Multiply 7 and 3:
y=8+21
Add together:
y=29
Answer:
12
Step-by-step explanation:
560-500=60
60/500*100=12
