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Vaselesa [24]
3 years ago
15

John invests $200 at 4.5% compounded annually. About how long will it take for John’s investment to double in value?

Mathematics
1 answer:
Gekata [30.6K]3 years ago
8 0

Answer:

The number of years needed is 15.75 years.

Step-by-step explanation:

The investment amount (present value) = $200

Interest rate =4.5%

Double of investment = $400

Now we have to find the time or number of years in which the investment amount will be doubled. So, just use the below formula to find the number of years.

Future value = present value ×(1+interest rate)^n

400 = 200×(1+4.5%)^n

N = 15.75 years

The number of years required to double the amount is 15.75 years.

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Answer:

e) Shamika= 224 balloon, Crystal= 112 balloon, Aliya= 114 Balloon.

f)  We know,Crystal sold "b" balloon

           Aliya sold (b+2) balloon

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As per data given in question part c that each balloon cost $2 and Total cost of balloon is $900.

Now, solving to find how much each student sold balloon at school´s winter dance.

As we know total cost is $900 and each balloon cost is $2.

∴ Total cost= Total\ quantity \times cost\ of\ each\ unit

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∴ \$ 900= {b+(2+b)+2b}\times \$ 2

Once we solve, we will get the value of b as 112 balloon, which is the number of balloon sold by Crystal.

Substituting the value of b in the equation of Aliya and Shamika, we will get the number of balloon sold by them.

Which is 114 and 224 respectively.

Step-by-step explanation:

Given: Crystal sold "b" balloon

           Aliya sold (b+2) balloon

          Shamika sold 2b balloon.

As per data given in question part c that each balloon cost $2 and Total cost of balloon is $900.

Now, solving to find how much each student sold balloon at school´s winter dance.

As we know total cost is $900 and each balloon cost is $2.

∴ Total cost= Total\ quantity \times cost\ of\ each\ unit

Total quantity= {b+(2+b)+2b}

∴ \$ 900= {b+(2+b)+2b}\times \$ 2

Opening the parenthesis.

⇒\$ 900= (b+2+b+2b)\times \$ 2

⇒\$ 900= 2+4b \times 2

Dividing both side by 2

⇒ \$ 450= 2+4b

Subtracting both side by 2

⇒ \$ 448= 4b

Cross multiplying

∴b= \frac{448}{4} = 112

∴ b= 112.

Hence, we can say Crystal have sold 112 balloons.

Next subtituting the  value of "b" in the equation for Aliya and Shamika to get number of balloon they have sold.

We know, Aliya sold b+2 balloons

∴ Aliya sold= 112+2= 114\ balloon

Aliya sold 114 balloon.

We know, Shamika sold 2b balloons

∴2\times 112= 224 balloon.

Shamika sold 224 balloon.

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