Complete Question
If $12000 is invested in an account in which the interest earned is continuously compounded at a rate of 2.5% for 3 years
Answer:
$ 12,934.61
Step-by-step explanation:
The formula for Compound Interest Compounded continuously is given as:
A = Pe^rt
A = Amount after t years
r = Interest rate = 2.5%
t = Time after t years = 3
P = Principal = Initial amount invested = $12,000
First, convert R percent to r a decimal
r = R/100
r = 2.5%/100
r = 0.025 per year,
Then, solve our equation for A
A = Pe^rt
A = 12,000 × e^(0.025 × 3)
A = $ 12,934.61
The total amount from compound interest on an original principal of $12,000.00 at a rate of 2.5% per year compounded continuously over 3 years is $ 12,934.61.
Hi so u would multiply then add 2 to get ur answer
Answer:
4 = 3x
Step-by-step explanation:
9-5=9x-6x
Combine like terms
4 = 3x
We can solve for x
Divide by 3
4/3 = 3x/3
4/3 =x
Answer:
The daily rate is $ 29 and the fee for each kilometer driven is $ 0.35.
Step-by-step explanation:
Since to rent a car, a person is charged a daily rate and a fee for each kilometer driven, and when Chena rented a car for 6 days and drove 320 km, the charge was $ 286.00, while when she rented the same car for 10 days and drove 900 km, the charge was $ 605.00, to determine the daily rate and the fee for each kilometer driven the following calculation must be performed:
286 = 6 days and 320 km
320/6 = 53,333 km
286/6 = $ 47,666
Thus, the value of 1 day and 53,333 km is $ 47,666.
605 = 10 days and 900 km
900/10 = 90 km
605/10 = $ 60.5
Thus, the value of 1 day and 90 km is $ 60.5.
90 - 53,333 = 36,666
60.5 - 47.666 = 12.833
12,833 / 36,666 = value per kilometer traveled
0.35 = value per kilometer traveled
(286 - (0.35 x 320)) / 6 = X
(286/112) / 6 = X
174/6 = X
29 = X
(605 - (0.35 x 900)) / 10 = X
(605 - 315) / 10 = X
290/10 = X
29 = X
Therefore, the daily rate is $ 29 and the fee for each kilometer driven is $ 0.35.
