How many months does it take for $700 to double at simple interest of 14%?
1 answer:
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When we say that an amount of something increases as another amount increases, at the same rate, then we are talking about Direct Proportion. It is also true for an amount of something that decreases as another amount decreases, at the same rate. So "y varies directly as x" can be written as:
In other words:
Where k is the constant of proportionality, and represents the slope of a line that passes through the origin.
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Answer:
$23271.49
Step-by-step explanation:
The function models the rise in the cost of a product that has a cost of C today, subject to an average yearly inflation rate of r for t years.
Now, if the average annual rate of inflation over the next 8 years is assumed to be 2.5% then we have to find the inflation-adjusted cost of a $19100 motorcycle after 8 years.
Therefore, the cost will be dollars. (Answer)