Tickets to a movie cost $7.25 for adults and $5.50 for students. a group of friends purchased 8 tickets for $52.75. how many adu
1 answer:
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Answer:
a. $ 2,431.01 = 4 years
b. $ 4,584.04 = 17 years
c. 4.57 years = $ 2,499.57
d. 8.3 year = $ 2,998.48
e. $ 2,431.01 = 4 years
Step-by-step explanation:
Compound Interest Equation
A = P(1 + r/n)nt
Where:
A = Accrued Amount (principal + interest)
P = Principal Amount
I = Interest Amount
R = Annual Nominal Interest Rate in percent
r = Annual Nominal Interest Rate as a decimal
r = R/100
t = Time Involved in years, 0.5 years is calculated as 6 months, etc.
n = number of compounding periods per unit t; at the END of each period
For this case we must find the solution of the following quadratic equation:
Where:
Then, the solution is given by:
Substituting the values:
By definition we have:
Thus, we have two complex roots.
Answer:
The equation has no real roots.