Suppose that 2000 is invested at a rate of 2.4% , compounded semiannually. Assuming that no withdrawals are made, find the total
1 answer:
Answer:
$2479.02
Step-by-step explanation:
The invested amount is $2000 at a rate of 2.4% which compounds semiannually.
Therefore, the semiannual interest rate is %.
Then the principal is compounded (9 × 2) = 18 times within a period of 9 years.
If there is no withdrawal from the account, then after 9 years the sum will become
dollars {Rounded to the nearest cent} (Answer)
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Cost of one roll of plain wrapping:
Cost of one roll of holiday wrapping paper:
Step-by-step explanation:
Let be "p" the cost in dollars of one roll of plain wrapping paper and "h" the cost in dollars of one roll of holiday wrapping paper.
Based on the information given, we can set up this system of equations:
In order to solve it, we can use the Substitution method. The steps are:
1. Solve for "p" from the first equation:
2. Substitute the above into the second equation and solve for "h":
3. Substitute the value of "h" into :