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Alexus [3.1K]
3 years ago
6

Find the future value of $2000 invested at annual rate of 2.4% compounded quarterly for 8 years. Round your answer to hundredths

(2-decimal) place
Mathematics
1 answer:
MatroZZZ [7]3 years ago
3 0

Answer: $2421.95

Step-by-step explanation:

A = p(1 + r/n) ^nt

A= 2000(1+0.024/4)^4x8

A= 2421.95

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A train leaves Kaduna for Lagos at 64km/h and an express to Kaduna leaves Lagos an hour later at 96km/h. If the distance between
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Good to see you here. Now back to the train. 

Kaduna, K                                                                                   Lagos, L
 
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One hour late second train leaves Lagos at 96 km/h.

At the point they meet, if first train has been travelling for "x" hours. Second train has been travelling for (x-1) hour.

At the point the meet, the total distance travelled is equal to 624 km.

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So when they meet, the first train which left Kaduna has travelled= 64x = 64*4.5= 288km from Kaduna.

So it is (624-288) km from Lagos. = 336 Km from Lagos.

Second train which left Lagos has travelled = 96(x-1) = 96(4.5-1) = 336km.
The second train is also 336 km away from Lagos.

Cheers.

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