This are the formulas hope they help
Answer:
25/6 = 4 with a remainder of 1
Current amount in account
P=36948.61
Future value of this amount after n years at i=11% annual interest
F1=P(1+i)^n
=36948.61(1.11)^n
Future value of $3000 annual deposits after n years at i=11%
F2=A((1+i)^n-1)/i
=3000(1.11^n-1)/0.11
We'd like to have F1+F2=280000, so forming following equation:
F1+F2=280000
=>
36948.61(1.11)^n+3000(1.11^n-1)/0.11=280000
We can solve this by trial and error.
The rule of 72 tells us that money at 11% deposited will double in 72/11=6.5 years, approximately.
The initial amount of 36948.61 will become 4 times as much in 13 years, equal to approximately 147800 by then.
Meanwhile the 3000 a year for 13 years has a total of 39000. It will only grow about half as fast, namely doubling in about 13 years, or worth 78000.
Future value at 13 years = 147800+78000=225800.
That will take approximately 2 more years, or 225800*1.11^2=278000.
So our first guess is 15 years, and calculate the target amount
=36948.61(1.11)^15+3000(1.11^15-1)/0.11
=280000.01, right on.
So it takes 15.00 years to reach the goal of 280000 years.
(11x+10)(x+-1)
(X+1)(11x+-10)
Answer:
1000 miles
Step-by-step explanation:
We will use the distance equation to find the answer to this problem.
D = RT
Where
D is distance
R is rate
T is time
At 250 miles per hour, suppose it takes t hours to go to st. paul. Thus, we can write:
D = 250t
Now, at 200 mi per hour, it takes 1 hour longer, so the time is "t + 1", so we can write:
D = 200(t+1)
We can equate both and see:
Now, we solve for t first:
We want the distance of St. Paul, so we can use any equation. lets use the 1st equation:
D = 250t
we know t = 4
so
D = 250 * 4 = 1000 miles
Distance to St. Paul is 1000 miles
