Answer: he needs to add $277.5
Step-by-step explanation:
The formula for continuously compounded interest is
A = P x e(r x t)
Where
A represents the future value of the investment after t years.
P represents the present value or initial amount invested
r represents the interest rate
t represents the time in years for which the investment was made.
From the information given,
P = $7,000
r = 5.5% = 5.5/100 = 0.055
t = 4 years
Therefore,
A = 7000 x e(0.055 x 4)
A = 7000 x e(0.22)
A = $8722.5
After four years, he wants to buy a used car for $9,000. Therefore, the additional amount that he needs to add is
9000 - 8722.5 = $277.5
No problem (I need at least twenty characters)
Answer:
the price of the package without the discount is $150
Step-by-step explanation:
The computation of the price of the package without the discount is shown below:
Let us assume the price without discount be x
So after discount it would be x - 0.12x = 0.88x
Now the equation would be
0.88x = $132
x = $132 ÷ 0.88
= $150
hence, the price of the package without the discount is $150
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer: 5.3
Step-by-step explanation: First, you have to use PEMDAS and then you will get 32 divided by 6, which is 5.3 repeating
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