The compound interest formula is : 
where, A= Future value including the interest,
P= Principle amount, r= rate of interest in decimal form,
t= number of years and n= number of compounding in a year
Here, in this problem P= $ 51,123.21 , t= 20 years and 2 months
So, t= 20 + (2/12) years
t= 20 + 0.17 = 20.17 years
As the amount is compounded daily, so n= (12×30)= 360 [Using the traditional Banker’s rule of 30 days per month]
Thus, 
When the interest rate is given, then we can use this equation for finding the future value.
7.5 km/h
Step-by-step explanation:
Let's assign the speed of Jerry in still air as <em>x </em> (in km/h)
Let's assign the speed of the wind as <em>y </em>(in km/h)
With the wind as Jerry’s back, he takes 10 minutes to get to the library. We can create the following equation. (<em>we are converting the minutes to hours by dividing by 60</em>);
2.5 / (x + y) = 10/60
10x + 10y = 150
x + y = 15
With the wind against Jerry, he takes 15 minutes from the library. We can create the following equation;
2.5 / (x-y) = 15/60
15x – 15y = 150
x – y = 10
We can now solve the simultaneous equation by subtraction;
x + y = 15
x – y = 10
2y = 5
y = 5/2 = 2.5
y = 2.5 km/h
x = 7.5 km/h
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9514 1404 393
Answer:
14 minutes
Step-by-step explanation:
Let t represent the time it took Suki to pick out her pumpkin. The given relation is ...
10t -13 = 127 . . . . . equation for minutes to carve
10t = 140 . . . . . . . . add 13
t = 14 . . . . . . . . . . divide by 10
It took Suki 14 minutes to pick out her pumpkin.
Answer: the commission received by the salesperson is $576.9225
Step-by-step explanation:
Let x represent the auction price
At the dealership, a sales person sold the boat for 30% more than the auction price. It means that the amount for which he sold the boat is
x + (30/100 × x)
= x + 0.3x = 1.3x
If the dealer paid $10,000 for a boat at an auction, it means that
1.3x = 10000
x = 10000/1.3
x = 7692.31
The difference between the auction price and the dealer price is
10000 - 7692.31 =$2307.69
The sales person received a commission of 25% of the difference between the auction price and the dealer price. It means that the commission received by the salesperson is
25/100 × 2307.69 = $576.9225