Answer: $1114.91
Step-by-step explanation:
The formula for compound interest is
Where
A = final amount
P = initial principal balance (1030 for this)
r = interest rate (0.04 for this)
n = number of times interest applied per time period (2 for this)
t = number of time periods elapsed (2 for this)
This rounds up to $1114.91
Hello! Your answer is B, 10 minutes.
Say the x = minutes taken to do the job. You can set up an equation like this to solve this.
This is representative of the situation. The fractions each represent <u>how much each person does in a minute</u>, and when they're multiplied by x, that's <u>how much of the project they get done</u> based off of the minutes they work together on the job. Add the two together, and you get <u>how much of the project is finished in x amount of time</u>. Set it equal to 1, as you are looking for 100% completion.
Once you have this equation, find a common denominator, add, and solve.
Therefore, it will take them 10 minutes to do the job together.
Hope this helps!