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Scrat [10]
3 years ago
11

A collection of quarters and dimes is worth $18.30. There are 111 coins in all.

Mathematics
1 answer:
Tcecarenko [31]3 years ago
7 0
We can set up a system of equations.

x + y = 111
0.25x + 0.10y = 18.30

x + y = 111

Subtract 'y' to both sides:

x = -y + 111

Plug in '-y + 111' for 'x' in the 2nd equation:

0.25(-y + 111) + 0.10y = 18.30

Distribute 0.25 into the parenthesis:

-0.25y + 27.75 + 0.10y = 18.30

Combine like terms:

-0.15y + 27.75 = 18.30

Subtract 27.75 to both sides:

-0.15y = -9.45

Divide -0.15 to both sides:

y = 63

Plug this back into any of the two equations to find the 'x' value.

x + y = 111

x + 63 = 111

Subtract 63 to both sides:

x = 48

So there are 48 quarters and 63 dimes.
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Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your
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Answer:

Using the rule of 72, the doubling time is 9.35 years.

The exact answer is that the doubling time is 8.89 years.

Step-by-step explanation:

By the rule of 72, we have that the doubling time D is given by:

D = \frac{72}{Interest Rate}

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In our exercise, the interest rate is 7.7%. So, by the rule of 72:

D = \frac{72}{7.7} = 9.35.

Exact answer:

The exact answer is going to be found using the compound interest formula(since the rule of 72 is a simplification of this formula).

The compound interest formula is given by:

A = P(1 + \frac{r}{n})^{nt}

Where A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.

So, for this exercise, we have:

We want to find the doubling time, that is, the time in which the amount is double the initial amount, double the principal.

A = 2P

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There are 52 weeks in a year, so n = 52

A = P(1 + \frac{r}{n})^{nt}

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\log_{a} a^{n} = n

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\log_{1.0015}(1.0015)^{52t} = \log_{1.0015} 2

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The exact answer is that the doubling time is 8.89 years.

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Answer:

The answer to your question is:  \sqrt[4]{2^{3} } + 1

Step-by-step explanation:

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