Answer: he should invest $16129 today.
Step-by-step explanation:
Let $P represent the initial amount that should be invested today. It means that principal,
P = $P
It would be compounded annually. This means that it would be compounded once in a year. So
n = 1
The rate at which the principal would be compounded is 7.6%. So
r = 7.6/100 = 0.076
The duration of the investment would be 6 years. So
t = 6
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years.
A = 25000
Therefore
25000 = P(1+0.076/1)^1×6
25000 = P(1.076)^6
25000 = 1.55P
P = 25000/1.55
P = $16129
Step-by-step explanation:
If there is a growth of 5.6% per time unit. The function is
f(t) = 1600 * (1.056)^t
Answer:
175,760,000 possible license plates
Step-by-step explanation:
There are 3 spots where there are 26 choices each
=
26
^3
and 4 spots where there are 10 choices each (the digits 0 through 9,
=
10
^4
This gives:
26^3*10^4=175,760,000
Hope this Helps...!!
Here you go the answer is in the picture
There is only one solution
