Answer:

Step-by-step explanation:






Employee B will make more money in the third year Because in year third his/her % is going to increase up to 12%.
To find out multiply 18.00 the initial amount times 12% = $2.16
Answer:
This year profits are $40,000.
Step-by-step explanation:
Last year a business had a profits of $8000.
This year it's profits are 5 times as great.
5 times means
= $40,000.
Hence, this year profits are $40,000.
<u>Answer:
</u>
$800 will become $ 1300 in 6.94 years when compounded continuously at the annual interest rate of 7%.
<u>Solution:
</u>
Given that
Amount deposited = $800,
Rate if interest = 7% = 0.07
Required amount = $1300
And most important thing that interest is compounded continuously.
Formula of Amount where interest is compounded continuously is as follows

Where A is final amount,
P is principal Amount,
r = rate of interest
t = duration in years
In our case A = $1300, P = $800, r = 0.07. We need to evaluate “t” that is number of year.
On substituting given values in formula of amount we get



Taking ln both the sides

= 1 .So we get,
ln(1.625) = 0.07t

= 6.9358 ≈ 6.94 years
Hence $800 will become $ 1300 in 6.94 years when compounded continuously at the annual interest rate of 7%.