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user100 [1]
2 years ago
8

* Danny wants to earn $500,000 by the time he retires. He puts a huge bonus of $20,000 in an

Mathematics
1 answer:
zloy xaker [14]2 years ago
5 0

Answer:

See Below

Step-by-step explanation:

The question is asking:

After how many years, 20,000 will become 500,000 at an annual interest of 11.5%?

So, we need compound growth formula shown below to solve this:

F=P(1+r)^t

F is future value

P is present amount

r is rate of interest

t is the time of year

Given,

F = 500,000

P = 20,000

r = 11.5% = 11.5/100 = 0.115

t is what we want to find

F=P(1+r)^t\\500,000=20,000(1+0.115)^t\\25=1.115^t

Now, we take natural log of both sides and solve for t:

Ln(25)=t*Ln(1.115)\\t=\frac{Ln(25)}{Ln(1.115)}\\t=29.57

Its is going to take about 29.57 years, rounding, 30 years

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A population of aardvarks is growing at a rate of 2% per year, there are 714 aardvarks this year and 700 aardvarks were there last year.

<h3>What is an equation?</h3>

An equation is an expression that shows the relationship between two or more variables and numbers.

Let y represent the amount of aardvarks after x years.

It can be represented by the equation:

y = a(1.02)ˣ

If this year there are 714 aardvarks, the amount in the last year is:

714 = a(1.02¹)

a = 700

A population of aardvarks is growing at a rate of 2% per year, there are 714 aardvarks this year and 700 aardvarks were there last year.

Find out more on equation at: brainly.com/question/2972832

#SPJ1

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In a class of 160 students, 90 are taking math, 78 are taking science, and 62 are taking both math and science. What is the prob
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90 ÷ 160

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3 years ago
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Suppose we want to write 2/5
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Answer:

you must multiply the numerator and denominator by 6

Step-by-step explanation:

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Jason sells semi-trucks at a local truck dealer. He is paid a base pay of $1,000 and 1.5% on his monthly sales. How much will he
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5 0
2 years ago
For the month of April which option would be better? 1. To be gifted $1,000,000 once only on April 1st. OR 2. To receive a penny
SVETLANKA909090 [29]

Answer:

a.) April has 30 days

If you for option No.2, you would have:

[day, amount($)]

1, 0.01

2, 0.02

3, 0.04

4, 0.08

5, 0.16

6, 0.32

7, 0.64

8, 1.28

9, 2.56

10, 5.12

11, 10.24

12, 20.48

13, 40.96

14, 81.82

15. 163.48

16, 327.68

17, 655.36

18, 1310.72

19, 2621.44

20, 5242.88

21, 10,485.76

22, 20,971.52

23, 41,943.04

24, 83,886.08

25, 167,772.16

26, 335,544.32

27, 671,088.64

28, 1,342,177.28

29, 2,684,354.56

30, 5,368,709.12

Option 2 grants you more than 5 times as much as Option A and is therefore obviously better.

b.) A diagram would show first a slow rise, than a steeper and steeper rise, then would almost growvertically. exponential growth

#coronatime

The most elegant form to describe the given numbers would simply be

$=1*2^x

You start with one, eich doubles after a day (x=1). x is the number of days and how often you multiply by 2

c.) Wasn't sure without calculating, but I guessed Opt.2, because it seemed that one should be tricked into choosing Opt.1

Have a nice day

Brainliest would be appreciated

If there are questions left, feel free to ask them

4 0
3 years ago
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