Answer:
Belle's weekly earnings per week in 2008: $245.7
Step-by-step explanation:
The federal minimum wage in the year 2008 was: $6.55
She worked 37.5 hours per week.
She earn each week:
John Hikes 13.5 mi at a constant rate of 3 mi/ h
2 answers:
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Amount must the owner make to have the cost of the ski lift in 5 years is $6,711,045.22.
<h3>What is compound interest?</h3>
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest.
A = P(1 + r/n)
P =5,500,000
r =4%= 0.004
n =4
t= 5 years.
Now,
A = P(1 + r/n)
A = 5,500,000.00(1 + 0.04/4)
A = 5,500,000.00(1 + 0.01)
A = $6,711,045.22
Hence, The total amount accrued is $6,711,045.22.
Learn more about compound interest here:
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