Answer:
7 3/25
Step-by-step explanation:
Answer: he should invest $16129 today.
Step-by-step explanation:
Let $P represent the initial amount that should be invested today. It means that principal,
P = $P
It would be compounded annually. This means that it would be compounded once in a year. So
n = 1
The rate at which the principal would be compounded is 7.6%. So
r = 7.6/100 = 0.076
The duration of the investment would be 6 years. So
t = 6
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years.
A = 25000
Therefore
25000 = P(1+0.076/1)^1×6
25000 = P(1.076)^6
25000 = 1.55P
P = 25000/1.55
P = $16129
145,300 X .2 = 29,060
you multiply .2 because that is equal to 20% in decimal form, and you are finding out how much the insurance covers
therefore your answer would be 29,060 dollars
<span>The volume of a cylinder is the area of the base (π r^2) times the height (h). So it's V = π r^2 h. HOPE I HELPED</span>
