i think we need some more information or something is there any other information that they give you for this question?
Answer:
C
Step-by-step explanation:
Answer:
x = 60
Step-by-step explanation:
The question is asking
$14,700 * (1 - 8%)^x = $100
$14,700 * (1 - 0.08)^x = $100
$14,700 * (0.92)^x = $100
(0.92)^x = $100/$14,700
log(0.92^x) = log($100/$14,700)
x * log(0.92) = log(0.0068027)
x = log(0.0068027)/log(0.92)
x = 59.85
Since this question is asking in terms of years, we always round up (in this case to 60), as it won't fully be worth $100 by the beginning of the 59th year.
Answer
15%
Step-by-step explanation:
I think the answer is 15% because when we talk about percentile, we are actually subtracting from 100% in simpler terms. If we say a 85th percentile, it actually means 15%.
