Answer:
Interest earned= $200
Step-by-step explanation:
Giving the following information:
Initial investment= $20,000
Interest rate= 3%
Inflation rate= 2%
First, we need to calculate the real interest rate. <u>The inflation rate decreases the value of money through time. We need to deduct from the interest rate, the inflation rate.</u>
Real interest rate= 0.03 - 0.02= 0.01
<u>Now, we can calculate the interest earned in year 1:</u>
Interest earned= PV*(1+i)^n - PV
Interest earned= 20,000*(1.01^1) - 20,000
Interest earned= $200
Answer:
that makes no sense call your teacher for helpy
The time taken by the two men will be equal to 26 hours
<h3>What is speed?</h3>
The speed is defined as the ratio of the time distance traveled by the body to the time taken by the body to cover the distance.
here two men are walking at different speeds like
v₁=6 miles per hour
v₂=10 miles per hour
The time taken by them to separated by the distance of 100 miles each so that both of them separated by the distance of 200 miles.
t₁= {100}/{6}=16.66 hours
t₂= {100}/{10}=10 hours
total time taken will be
t₁+t₂=16.66+10=26.66 hours
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I’m thinking it’s $100. I guessed 100 first as that is a pretty common number and subtracted 61.75. I was left with 38.25 and I divided that by 3, the amount of washes. I got $12.75 but I had to check since I guessed 100. I then subtracted 23.50 from 100 and got 76.5. I divided that by 6, the amount of washes, and got 12.75 again. So I’m pretty sure that there was $100 on the gift card before he washes his car six times, each wash being $12.75.
