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2 answers:
So we need to find the inequality, Simple!
So we only have 5 dollars. That we cannot change.
But the snadwich, however, we can change how much we buy. But this problem is asking us how many we can buy. So that is an x. So far, we have 2.25x.
Then we have to use the inequality sign 'less than or equal to' because we can buy less or equal to 5 dollars.
So the equation is
Then we solve by isolating the x. We divide 2.25 both sides then we get
So we only have 5 dollars. That we cannot change.
But the snadwich, however, we can change how much we buy. But this problem is asking us how many we can buy. So that is an x. So far, we have 2.25x.
Then we have to use the inequality sign 'less than or equal to' because we can buy less or equal to 5 dollars.
So the equation is
Then we solve by isolating the x. We divide 2.25 both sides then we get
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We are given the following information
Investment = $5200
Annual interest rate = 4.2% = 0.042
Final amount = $16,500
Number of years = 27.7 years
Number of compoudings = quartely = 4
The student uses the following model
The general formula for compound interest is given by
As you can see, the number of compoundings is incorrect (3 vs 4)
The interest rate is also incorrect.
Let us substitute the given values into the above formula
Therefore, the final amount is approximately $16,543.5