the ratio of boys to girls in a class is 7 to 11. if there are a total of 49 boys in the class , then how many boys and girls ar
2 answers:
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$7881.18
Step-by-step explanation:
Let the initial Investment be . The Interest is compounded on a monthly basis at 12% annual interest rate. After 17 years, the Investment amounts to $60,000.
As the annual interest rate is 12%, the monthly interest rate is 1%.
Since this is a compound interest problem, the total amount can be modeled as follows:
Here is the interest rate, i.e
, and t is the number of time periods, i.e
=
∴ Initial Investment = $7881.18
here is the equation, since we don't have a point f(×) and x would just stay
