A factory manufactures a metal piece in 32 minutes. New technology allowed the factory to cut that time by 8%. Then another impr
1 answer:
Answer:
28 minutes
Step-by-step explanation:
we know that
1) A factory manufactures a metal piece in 32 minutes
2) New technology allowed the factory to cut that time by 8%
Remember that
In this part 32 minutes represent the 100%
To find out how long it take to manufacture the piece, multiply 32 minutes by the factor 0.92
3) Then another improvement cut the time by 5%
Remember that
In this part 29.44 minutes represent the 100%
To find out how long it take to manufacture the piece now, multiply 29.44 minutes by the factor 0.95
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Compute each option
option A: simple interest
simple interest is easy
A=I+P
A=Final amount
I=interest
P=principal (amount initially put in)
and I=PRT
P=principal
R=rate in decimal
T=time in years
so given
P=15000
R=3.2% or 0.032 in deecimal form
T=10
A=I+P
A=PRT+P
A=(15000)(0.032)(10)+15000
A=4800+15000
A=19800
Simple interst pays $19,800 in 10 years
Option B: compound interest
for interest compounded yearly, the formula is
where A=final amount
P=principal
r=rate in decimal form
t=time in years
given
P=15000
r=4.1% or 0.041
t=10
use your calculator
A=22418.0872024
so after 10 years, she will have $22,418.09 in the compounded interest account
in 10 years, the investment in the simple interest account will be worth $19,800 and the investment in the compounded interest account will be worth$22,418.09