See the attached picture for solution:
Answer:
18%
Step-by-step explanation:
45 * .18 = 8.10 tip
Answer:
$14.39
Step-by-step explanation:
The formula for continuous compounding of interest is:
A = Pe^(rt), were P is the initial dollar amount, A is the final amount, r is the interest rate as a decimal fraction, and t is the time in years.
Here we have $2109 = $500e^(10r) and need to solve for r.
To do this, take the natural log of both sides, obtaining:
ln 2109 = ln 500+ 10r.
Then 10r = ln 2109 - ln 500, and
ln 2109 - ln 500
r = --------------------------------------------
10
= .1439
The interest rate was 14.39%.
Answer
given,
Price of the stock = $36
stock price fall per day = $1.50
number of days price fall = 7 days
a) the price of the stock changes by = $1.50 x 7
= $10.5
Price of stock decreased by $10.5
b) Price of stock after 7 days
= $36 - $10.5
= $25.5
the value of stock after 7 days is equal to $25.5
