Answer:
x=4, y=3
Step-by-step explanation:
Answer:
After 23 years , the capital will get three times as big
Step-by-step explanation:
Firstly, let us write the compound interest formula
P = I( 1 + r)^n
Since we are considering a capital rise of 3 times
If I, the initial value is x, the P
value later will be 3x
Interest rate is 5/100 = 0.05
so we need the value of t
This will be;
3x = x(1 + 0.05)^t
3= 1.05^t
ln 3 = t ln 1.05
t = ln 3/ln 1.05
t = 23 years
Step-by-step explanation:
3 is the correct answer
Answer: the cost of nursing home care 3 years ago was $37,000
Step-by-step explanation:
$46,000 x 20%=
$46,000 x 20/100= $9,200
$46,000 - $9,200 = $36,800
