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4 years ago

Fred decides to think about retirement and invests at the age of 26. He invests $15,000 and hopes the investment will be

Mathematics

2 answers:

fgiga [73]4 years ago

6 0

Answer:

Step-by-step explanation:

Future value with continuous compounding ; FV = $Pe^{rt\\ } \\ 900,000 = 15,000e^{38r} \\ \\ \frac{900,000}{15,000} =e^{38r\\ }\\ \\ \\ 60 =e^{38r}$

Introduce ln on both sides of the equation

ln 60 = ln $e^{38r}$

note: ln $e^{x} = x$

Next, solve the equation;

4.09 = 38r

Divide both sides by 38 to solve for r;

4.09/38 = r

r= 0.107746 or 10.7746%

Therefore the rate would be 10.775% to the nearest a tenth of a percent.

Eddi Din [679]4 years ago

5 0

Answer:

10.8%

Step-by-step explanation:

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Rent-Me Rent-A-Car charges $25.00 per day plus $0.14 per mile to rent an economy car. Better Deal Rental Car charges $23.00 per

zalisa [80]

Answer:

The number of miles at which a car rented from either company cost the same amount is 50 miles.

Step-by-step explanation:

Let x represents the number of miles at which a car rented from either company cost the same amount. Therefore, we can have the following equation:

RC = 25 + 0.14x ....................... (1)

BC = 23 + 0.18x ...................... (2)

Where;

RC = Total cost of Rent-Me Rent-A-Car

BC = Total cost of Better Deal Rental Car

The the cost of the two companies equal where RC = BC. Therefore, we equate equations (1) and (2) and solve for x as follows:

25 + 0.14x = 23 + 0.18x

25 - 23 = 0.18x - 0.14x

2 = 0.04x

x = 2 / 0.04

x = 50

Therefore, the number of miles at which a car rented from either company cost the same amount is 50 miles.

Note:

This can be confirmed for equations (1) and (2) individually by substituting for x = 50 as follows:

For equation (1):

RC = 25 + 0.14(50)

RC = 25 + 7

RC = 32

For equation (2):

BC = 23 + 0.18(50)

BC = 23 + 9

BC = 32

Therefore, RC = BC = 32 confirms the answer.

3 0

3 years ago

Sandy purchased 3 pairs of shorts, 5 shirts, and 2 pairs of sandals. Which of the following expressions represents the number of

alexandr1967 [171]

Hey, you didn’t add the options or following expressions. Can you add them in the comments so I can try and help you out?

4 0

3 years ago

Please help me out with this

UNO [17]

Step-by-step explanation:

45+90+x=180

135+x=180

x=180-135

x=45

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3 years ago

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daser333 [38]

Answer:

See below

Step-by-step explanation:

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3 years ago

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guajiro [1.7K]

Answer:

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Step-by-step explanation:

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3 years ago