Joe is mowing lawns to buy a new car. For every lawn that he mows he earns $20. Joe charges a one time clean up fee of $50 befor
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The compound interest formula is :
where, A= Future value including the interest,
P= Principle amount, r= rate of interest in decimal form,
t= number of years and n= number of compounding in a year
Here, in this problem P= $ 51,123.21 , t= 20 years and 2 months
So, t= 20 + (2/12) years
t= 20 + 0.17 = 20.17 years
As the amount is compounded daily, so n= (12×30)= 360 [Using the traditional Banker’s rule of 30 days per month]
Thus,
When the interest rate is given, then we can use this equation for finding the future value.
Answer:
2.25
Step-by-step explanation:
Given the cost model:
C(l) = l3 – l2 + l + 2.5
l = Length fo package
The length of a package that cost $11.00
11 = l³ - l² + l + 2.5
From the table given :
Length of mail which cost $11 will just be slightly greater Than 2 as the cost of 2 length mail cost 8.50
Taking l as 2.20
2.2^3 - 2.2^2 + 2.2 + 2.50 = 10.508
Taking a slightly higher value :
Put l = 2.25
2.25^3 - 2.25^2 + 2.25 + 2.50 = 11.078
Ww can conclude that the length of mail would be 2.25
