Which expression defines the arithmetic series 1 + 3 + 5 + . . . for seven terms?
1 answer:
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Answer:
9 yards
Step-by-step explanation:
Let the length of each quilt be 'l'.
Given:
Length of green felt (g) = 15 yards
Length of blue felt (b) = 12 yards
Total number of quilts = 3
Now, the length of 3 quilts is given as:
----- (1)
As per question:
Total length = Length of green felt + Length of blue felt
Total length =
--------- (2)
Now, comparing equations (1) and (2), we get:
Hence, each quilt measures 9 yards in length.
Answer:
- <u>The rate of return is 8.15%</u>
- <u>This is a good investment</u>
<u></u>
Explanation:
For the first question, you need to find the rate that makes the present value of a stream of ten constant annual payments of $15,000 equal to the $100,000 investment.
The formula that returns the present value of a constant payment is called the annuity formula and is:
In your problem you know:
- Present value: $100,000
- payment: $15,000
- r: ?
- t: 10
You cannot solve for r directly. You must guess a value and calculate the right side of the equation until to you find the rate that makes it equal to 100,000.
Try 5%:
Then, the rate of return is greater than 5%. After several trials you will find that the rate of return is 8.15%.
Since this rate is higher than 8%, which is what the company requires, this is a good investment.