Answer:
The total cost of the cylindrical tank is $226.28
Step-by-step explanation:
Dimensions of the tank are: radius = 3 ft , height = 2 ft
Cost per cubic foot = $4
Now, total volume of the cylindrical tank =
Here, take π = 22/7
So, Volume =
So, the <u>volume of the tank = 56.57 cubic feet. </u>
Now, cost per cubic foot = $4
Hence, the total cost of the tank = Total Volume of the tank x cost per foot
= 56.57 x 4 = $226.28
So, the total cost of the cylindrical tank is $226.28
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:
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