How much more would be in
1 answer:
Answer:
It will be $506.876 more.
Step-by-step explanation:
The equation for continuously compounded interest is given by
.......... (1)
where, A is the final amount, P is the principal amount, r is the annual interest rate and t is the number of years.
Now, in our case, P = $500, r = 7% i.e 0.07 and t = 10 years.
Then, from equation (1),
dollars
Therefore, the interest will be (A - P) = $(1006.876 - 500) = $506.876. (Answer)
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Answer:
The ratio of her savings to expenditure <u>1 : 7</u>.
Step-by-step explanation:
Given:
Neelam's annual income is Rs. 288000.
Her annual savings amount to Rs. 36000.
Now, to get the ratio of her savings to her expenditure:
So, we get the expenditure first:
Expenditure = Income - Savings.
Expenditure = 288000 - 36000 = Rs. 252000.
Now, <em>the ratio of savings to expenditure:</em>
Thus, Savings:Expenditure = 1:7.
Therefore, the ratio of her savings to expenditure 1 : 7.