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Answer:
It’s 20
Step-by-step explanation:
Amount must the owner make to have the cost of the ski lift in 5 years is $6,711,045.22.
<h3>
What is compound interest?</h3>
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest.
A = P(1 + r/n)
P =5,500,000
r =4%= 0.004
n =4
t= 5 years.
Now,
A = P(1 + r/n)
A = 5,500,000.00(1 + 0.04/4)
A = 5,500,000.00(1 + 0.01)
A = $6,711,045.22
Hence, The total amount accrued is $6,711,045.22.
Learn more about compound interest here:
brainly.com/question/14295570
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To answer this question, you should set up and equation before doing anything else. So for this question you 're going to set up two equations.
The first equation is 2x+5y=33
The second equation is 8x+3y=30
Once you do that you have to solve for either X or Y by canceling out the other one. In this problem figuring out the Y is easier because you can cancel the X's more easily than the Y. To cancel a variable, they have to add up to 0.
So to cancel the X you multiply the equation 2x+5y=33 by -4.
That gives you -8x-20y= -132
Then you set up the two equations and add them together.
(-8x-20y= -132) + (8x+3y=30)
That gives you -17y = -102
So then you solve for Y by dividing by -17. You find out that Y is equal to 6. Then you plug the 6 back into the ORIGINAL equations and solve for X, which turns out to be 1.5
Hope this helped and if you get confused or have questions please ask :)