Answer:
The amount of interest earned at the end of 14 years would be $672.3486
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this problem, we have that:
So
The amount of interest earned at the end of 14 years would be $672.3486
A. Every month Population will increase by a factor of 0.84%.
B. Every 3 months Population will increase by a factor of 2.5%.
C. Increase in population in every 20 months is 10% + 6.72% = 16.72%.
<u>Step-by-step explanation:</u>
Here, we have number of employees in a company has been growing exponentially by 10% each year. So , If we have population as x in year 2019 , an increase of 10% in population in 2020 as which is equivalent to
.
<u>A.</u>
For each month: We have 12 months in a year and so, distributing 10% in 12 months would be like . ∴ Every month Population will increase by a factor of 0.84%.
<u>B.</u>
In every 3 months: We have , 12 months in a year , in order to check for every 3 months and Now, Population increase in every 3 months is
. ∴ Every 3 months Population will increase by a factor of 2.5%.
<u>C.</u>
In every 20 months: We have , 12 months in a year in which increase in population is 10% . Left number of moths for which we have to calculate factor of increase in population is 20-12 = 8. For 1 month , there is 0.84% increase in population ∴ For 8 months , 8 × 0.84 = 6.72 %.
So , increase in population in every 20 months is 10% + 6.72% = 16.72%.