The area would be 24 inches²
The time required to get a total amount of $13,200.00 with compounded interest on a principal of $7,000.00 at an interest rate of 5.5% per year and compounded 12 times per year is 11.559 years. (about 11 years 7 months)
Answer:
t = 11.559 years
<h3>Compound Interest </h3>
Given Data
(about 11 years 7 months)
Calculation Steps:
First, convert R as a percent to r as a decimal
r = R/100
r = 5.5/100
r = 0.055 per year,
Then, solve the equation for t
t = ln(A/P) / n[ln(1 + r/n)]
t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.055/12)] )
t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.0045833333333333)] )
t = 11.559 years
Learn more about compound interest here:
brainly.com/question/24924853
The answer for this equation is x < 1
7 1/12 - 2 3/4
First we have to change mixed numbers to improper fractions
7 1/12 = 7 x 12 + 1 = 85 85/12
2 3/4 = 2 x 4 + 3 = 11 11/4
85/12 - 11/4
Now we need to find the LCD (least common denominator) for 4 and 12
4, 8, 12
12
12 is our LCD, so it becomes our new denominator
85/12 would stay the same because the denominator wasn't changed but for 11/4 our new denominator is 12, so our fraction will change.
11/4 = 33/12
4 goes into 12, 3 times. What you do to the bottom, you do to the top.
3 x 11 = 33
3 x 4 = 12
So, our new fraction is 33/12. Now we subtract
85/12 - 33/12 = 52/12
Now we convert back to a mixed number
52 ÷ 12 = 4 4/12 reduce
4 1/3
Hope this helps.
Troy has a basis of $39 per share
total value of shares is $3900
Step-by-step explanation:
On July 1, the date of the gift, the stock was selling for $39 per share.
Troy's basis in the stock = current value of shares
No need to consider the base rate which is in 15 years ago
The current rate of 100 shares = $39 × 100 = $3900
Troy has a basis of $39 per share
total value of shares is $3900
