Answer:
4032 different tickets are possible.
Step-by-step explanation:
Given : At a race track you have the opportunity to buy a ticket that requires you to pick the first and second place horses in the first two races. If the first race runs 9 horses and the second runs 8.
To find : How many different tickets are possible ?
Solution :
In the first race there are 9 ways to pick the winner for first and second place.
Number of ways for first place - 
Number of ways for second place - 
In the second race there are 8 ways to pick the winner for first and second place.
Number of ways for first place -
Number of ways for second place - 
Total number of different tickets are possible is
Therefore, 4032 different tickets are possible.
Answer:
1. 15
2. 27
3. 4
4. 72
5. 2
6. 9
7. 1
Step-by-step explanation:
Current amount in account
P=36948.61
Future value of this amount after n years at i=11% annual interest
F1=P(1+i)^n
=36948.61(1.11)^n
Future value of $3000 annual deposits after n years at i=11%
F2=A((1+i)^n-1)/i
=3000(1.11^n-1)/0.11
We'd like to have F1+F2=280000, so forming following equation:
F1+F2=280000
=>
36948.61(1.11)^n+3000(1.11^n-1)/0.11=280000
We can solve this by trial and error.
The rule of 72 tells us that money at 11% deposited will double in 72/11=6.5 years, approximately.
The initial amount of 36948.61 will become 4 times as much in 13 years, equal to approximately 147800 by then.
Meanwhile the 3000 a year for 13 years has a total of 39000. It will only grow about half as fast, namely doubling in about 13 years, or worth 78000.
Future value at 13 years = 147800+78000=225800.
That will take approximately 2 more years, or 225800*1.11^2=278000.
So our first guess is 15 years, and calculate the target amount
=36948.61(1.11)^15+3000(1.11^15-1)/0.11
=280000.01, right on.
So it takes 15.00 years to reach the goal of 280000 years.
