Answer:
The growth rate he needs to achieve his goal is approximatelly 19.8%
Step-by-step explanation:
Since the sum will be compounded continuously we have to use the appropriate formula given below:
M = C*e^(r*t)
Where "M" is the final amount, C is the initial amount, r is the interest rate and t is the time elapsed. Since Sung Lee will invest that sum at 18 years old and he wants to recieve the return at 25, then the time elapsed is given by 25 -18 = 7 years. We can now apply the data to the formula:
16000 = 4000*e^(r*7)
4000*e^(7*r) = 16000
e^(7*r) = 16000/4000 = 4
ln[e^(7*r)] = ln(4)
7*r = ln(4)
r = ln(4)/7 = 0.198
The rate of interest is given by (r)*100%, so we have (0.198)*100% = 19.8%.
Answer:
she will pay 614.14 because 523 + 18% = 6.14.14
Step-by-step explanation:
Hope this helps!!
Answer:
if we take ratio then answer is option D
Answer:
2.9403x10^15
Step-by-step explanation:
plsss mark as brainliestt :)
Hey You!
Ten to the power of two = 100
So, when 42.6 is divided by 100, Sue should move the decimal 2 places to the left (before the 4).
42.6 ÷ 100 = 0.426
