Answer:
0.04 h
Step-by-step explanation:
The given equation is :
8h=200
It is used to find hours h a person needs to work to earn $200 at $8 per hour.
We need to find no of hours does a person need to work to earn $200. It can be calculated as follows :
So, for $200, the person will need 0.04 h.
Answer:
The amount in 20 years is $6,050.24
Step-by-step explanation:
Given the following information:
Principal (Present Value, or PV)= $3,100
Interest rate ( <em>r </em>)= 3.4% or 0.034
Number of compounding period (<em>n </em>)= 1 (annually)
Number of years ( <em>t </em>)= 20
We can use the Future Value formula to find out the value of $3,100 in 20 years:
FV = 3100(1.95169)
FV = $6,050.24
Therefore, the future value of the amount deposited is $6,050.24