I think, you just find a number that could be divided by or divided for.
Answer:
$8.2225
Step-by-step explanation:
100% - 45% = 55%
then divide 55 by 100 to get .55
lastly multiply .55 to 14.95 to get 8.2225
Answer:
20 years
Step-by-step explanation:
We start by writing an exponential equation;
FV = PV( 1 + r)^t
FV is the future value = 1,000,000
PV is present value = 372,000
r is rate = 5% = 5/100 = 0.05
t is time which we are looking for
1,000,000 = 372,000(1 + 0.05)^t
1.05^t = 1,000,000/372,000
1.05^t = 2.688
t ln 1.05 = ln 2.688
t = ln 2.688/ln 1.05
t = 20 years
