Answer:
Step-by-step explanation:
To solve this problem, you must:
- Subtract 7 from both sides of the equation:
- Now, you can factor it. Choose two numbers whose sum -14 and whose product is 45. These numbers would be -9 and -5. Therefore, you obtain the following solution:
Answer:
2,000 feet/minute
Step-by-step explanation:
After four minutes the plane has descended to 22,000 feet, and after seven minutes it has descended to 16,000 feet, so the plane lost 6,000 feet of altitude in three minutes. Assuming it lowers at a constant rate of change, the rate of change of the airplane would be or 2,000 feet/minute.
Given:
Future Value = $15,000
time (t) = 11 years
rate (r) = 4.4% or 0.044
number of conversions per year (m) = 365
Find: Initial amount or the Principal
Solution:
Formula for Compound Interest is:
From that, we can derive the formula for the Principal or the initial amount.
Let's plug in the given data above to the formula of the principal value.
Then, solve for P.
Answer: You must invest $9, 244.97 to the account in order to get $15,000 after 11 years.