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vodka [1.7K]
3 years ago
5

In a department store, a $40 dress is marked, “Save 25%.” What is the sale price of the dress?

Mathematics
1 answer:
gogolik [260]3 years ago
5 0
It is $30. 25% is $10. $40-$10 is $30
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Step-by-step explanation:

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LenaWriter [7]

Answer:

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Step-by-step explanation:

Since the annual rate is compounded quarterly, this can be calculated using the formula for calculating the future value as follows:

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Where;

FV = future value or the amount the deposit expected to grow to = $3,000

PV = Present value or the amount place in the savings = $2,000

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Substituting the values into equation (1) and solve for n, we have:

$3,000 = $2,000 * (1 + 0.0115)^n

$3,000 / $2,000 = (1.0115)^n

1.50 = (1.0115)^n

Loglinearise both sides, we have:

log(1.50) = n log(1.0115)

0.176091259055681 = n * 0.00496588710682352

n = 0.176091259055681 / 0.00496588710682352

n = 35.4601816891322

Rounding to the nearest hundredth, which also implies to rounding to 2 decimal places, we have:

n = 35.46

Since the the annual rate is compounded quarterly, it will therefore take 35.46 quarters for the account to grow to $3000.

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