Since the triangles are similar, they will have proportional sides. With this knowledge, we can make the proportion to solve for x.
Firstly, cross multiply:
Next, divide by 10 on both sides, and your answer will be 4 = x, or the first option.
What is meant by the term total installment price?
1 answer:
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The time taken if the interest is compounded quarterly will be 21.212 years or about 21 years 3 months.
We have,
Principal = 2900,
Amount = 25,600
And,
Rate of Compounded Interest = 10.4%
According to the question,
Interest is compounded quarterly,
So,
Rate of Compounded Interest = = 2.6%
Now,
Using the Compound Interest formula,
i.e.
A = P(1 +
i.e.
25600 = 2900(1 +
On solving we get,
= (
On solving further,
t =
On solving for log,
We get,
t = 21.212 years or about 21 years 3 months
Hence, we can say that the time taken if the interest is compounded quarterly will be 21.212 years or about 21 years 3 months.
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