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3 years ago

3. If a customer has $50.00 to spend, for how many hours can they rent the bicycle?

Mathematics

1 answer:

olya-2409 [2.1K]3 years ago

7 0

Answer:

4 hours

Step-by-step explanation:

Alright, so Steve has $50 in his pocket. He wants to rent a bike for the maximum amount of time possible with his money. It costs him $12 per hour to rent a bike.

To solve this problem use simple arithmetic:

($50/$12=4.16)

So Steve is able to rent the bike for 4.16 hours, but we aren't done yet. Steve cannot purchase 16% of an hour, he can only buy FULL hours, so with his $50 , the maximum amount of time he can buy is 4 hours!

Let me know if you need any further explanations :)

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3 years ago

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$\text{Given that }\$7000 \text{ is compounded semiannualy at a rate of }11\% \text{ for 21 years}\\
\\
\text{we know that the amount after t year when compounded is given by}\\
\\
A=P\left ( 1+\frac{r}{n} \right )^{nt}\\
\\
\text{here P is the principal amoount, so }P=7000,\\
\\
\text{r is the interest rate, }r=11\%=0.11\\
\\
\text{n is the number of times in a year, here semiannulay, so }n=2,\\
\\
\text{and t is the time, so }t=21\\
\\
\text{so the amount after 21 years is}$

$A=7000\left ( 1+\frac{0.11}{2} \right )^{2(21)}\\
\\
\Rightarrow A=7000\left ( 1+0.055 \right )^{42}\\
\\
\Rightarrow A=7000\left ( 1.055 \right )^{42}\\
\\
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