Answer:
5.93 years
Step-by-step explanation:
The continuous compounding formula tells you the amount after t years will be ...
A = Pe^(rt) . . . . principal P compounded continuously at annual rate r for t years
7400 = 5500e^(0.05t)
ln(7400/5500) = 0.05t . . . . divide by 5500, take natural logs
t = 20×ln(74/55) ≈ 5.93
It will take about 5.93 years for $5500 to grow to $7400.
Answer:
Buying a home allows you to build wealth over time.
Step-by-step explanation:
no other asset can build your wealth more consistently. When you rent, you are building your landlord's wealth, and not your own. Combined with leverage, real estate appreciation can offer big returns

The number "x" is given by:
Therefore, we have:
Answer:
Profit % = 39%
Step-by-step explanation:
Cost price of the article = 9
Price for repairing = 4
Therefore, Total cost of the article = 9 + 4 = 13
Selling price of the article = 18
Profit = 18 - 13 = 5
Hence,


Profit percent (to the nearest %) = 39%