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3 years ago

How long would it take for $45 to increase $150 at 6% compounded annually? (Answer to the nearest year.)

Mathematics

1 answer:

Svetach [21]3 years ago

5 0

Answer:

It wil take approximately 20 years 7 months and 29 days for the account to go from $45 to $150, or 21 years rounded to the nearest year.

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The average value of two positive numbers is 30% less than one of the two numbers. By which percentage is average value bigger t

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Answer:

75% bigger

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Let the first number be x and the second be y.

So:

$Average = \frac{x + y}{2}$

And:

$Average = (1 - 30\%) * x$ -----30% less than x

Substitute $Average = (1 - 30\%) * x$ in $Average = \frac{x + y}{2}$

$\frac{x + y}{2} = (1 - 30\%) * x$

$\frac{x + y}{2} = (1 - 0.30) * x$

$\frac{x + y}{2} = 0.70 * x$

$\frac{x + y}{2} = 0.70x$

Cross multiply

$x + y = 0.70x * 2$

$x + y = 1.40x$

Collect like terms

$1.40x - x = y$

$0.40x = y$

Make x the subject

$x = \frac{y}{0.40}$

$x = 2.50y$

So, the average is:

$Average = (1 - 30\%) * x$

$Average = (1 - 30\%) * 2.50y$

$Average =0.70 * 2.50y$

$Average =1.75y$

Rewrite as:

$Average =(1 + 0.75)y$

Express as percentage

$Average =(1 + 75\%)y$

This means that the average is 75% bigger than the second number

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3 years ago

How long would it take for $45 to increase $150 at 6% compounded annually? (Answer to the nearest year.)​

How long would it take for $45 to increase $150 at 6% compounded annually? (Answer to the nearest year.)