1) Since this is a Continuously Compounded operation in a 10 yrs period, then we can write out the following equation:
2) Plugging into the equation the given data and since Otto is 20 yrs old and he plans to get $4,000 in ten years, we can write out:
3) Thus the rate Otto needs is
Note that since the 0.1386 the six here is greater than 5 then we can round up to the next thousandth, in this case: 0.139. For the 0.1386 is closer to 0.139 (0.004) than to 0.138 (0.006).
Or 13.9%
The question is incomplete. The map is attached as a photo and here is the complete question:
a. What is the actual distance between Saugerties and
Kingston? ___________________________
b. Catskill is 15 miles from Saugerties. What would the
distance on the map be? ___________________________
c. On another map, the distance between Saugerties and
Kingston is 2 inches. What would the distance from Saugerties to
Catskill be on this map? __________________
Since you have asked the answer for part (c) only, here is the answer:
Answer:
<u>The distance from Saugerties to Catskill would be </u><u>3 inches</u><u> on this map.</u>
Step-by-step explanation:
On the given map, the distance between Saugerties and Kingston is 4 inches and the scale is <u>1 inch = 2.5 miles.</u>
To calculate the actual distance in miles between Saugerties and Kingston, consider the given scale:
1 inch ---------- 2.5 miles
4 inches ------ x miles
Cross multiplying:
1x = 2.5 x 4
x = 10 miles
The actual distance between Saugerties and Kingston is 10 miles.
On another map, the distance between Saugerties and Kingston is 2 inches. Which means the scale is 2 inches = 10 miles. So 1 inch = 10/2 = 5 miles
The scale on the other map is 1 inch = 5 miles.
Catskill is 15 miles from Saugerties (given in the previous part). So on the map:
1 inch -------- 5 miles
y inch ------- 15 miles
Cross multiplying:
15 = 5y
y = 15/5
<u>y = 3 inches.</u>
The distance from Saugerties to Catskill would be 3 inches on this map.
