Pretty sure it’s infinitely many solutions
6 adults were in the group and 4 children
Hello!
Change each mixed number to an improper fraction to make it easier
2 3/8 = 19/8
5 3/4 = 23/4
Now, multiply
19/8 × 23/4 = 437/32 = 13 21/32
Answer ⇒ 13 21/32
<u>Answer-</u>
<em>The amount will be </em><em>$8944.62</em><em> after 5 years.</em>
<u>Solution-</u>
We know that,
Where,
P = Payment = $50 monthly
r = rate of interest compounded monthly=
n = number of period = 5 years = 5×12 = 60 months
Putting the values in the formula,
Therefore, the amount will be $8944.62 after 5 years.