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.
Let y=total monthly income
Let x=each time app is opened
y=25+(.003x)
Answer:
10+6=16
Step-by-step explanation:
Answer:
Step-by-step explanation:
If m = 4, z = 9 and r = 1/6
1. 3 + m = 3 + 4 = 7
2. z - m = 9 - 4 = 5
3. 12r = 12 × 1/6 = 2
4. 60r - 4 = 60(1/6) - 4 = 10-4 = 6
5. 4m - 2 = 4(4) - 2 = 16-2 = 14