Current amount in account
P=36948.61
Future value of this amount after n years at i=11% annual interest
F1=P(1+i)^n
=36948.61(1.11)^n
Future value of $3000 annual deposits after n years at i=11%
F2=A((1+i)^n-1)/i
=3000(1.11^n-1)/0.11
We'd like to have F1+F2=280000, so forming following equation:
F1+F2=280000
=>
36948.61(1.11)^n+3000(1.11^n-1)/0.11=280000
We can solve this by trial and error.
The rule of 72 tells us that money at 11% deposited will double in 72/11=6.5 years, approximately.
The initial amount of 36948.61 will become 4 times as much in 13 years, equal to approximately 147800 by then.
Meanwhile the 3000 a year for 13 years has a total of 39000. It will only grow about half as fast, namely doubling in about 13 years, or worth 78000.
Future value at 13 years = 147800+78000=225800.
That will take approximately 2 more years, or 225800*1.11^2=278000.
So our first guess is 15 years, and calculate the target amount
=36948.61(1.11)^15+3000(1.11^15-1)/0.11
=280000.01, right on.
So it takes 15.00 years to reach the goal of 280000 years.
Answer:
Given diameter: r = d / 2 , Given area: r = √[A / (4 * π)] , Given volume: r = ³√[3 * V / (4 * π)] , Given surface to volume ratio: r = 3 / (A/V) .
Step-by-step explanation:
So, do that!
Answer:
$1.75 cost of the funnel cake and $4.25 cost of the ice cream cone.
Step-by-step explanation:
x = cost of the ice cone cone
y = cost of the funnel cake
3x + 4y = 19.75 multiply (-2) ⇔ -6x - 8y = -39.50
5x + 8y = 35.25 do not change ⇔ +<u> 5x + 8y = 35.25</u>
-x = -4.25
x = 4.25 cost of the ice cream cone
Substitute into the second equation x = 4.25 and solve for y
5(4.25) + 8y = 35.25
21.25 + 8y = 35.25
8y = 14
y = 1.75 cost of the funnel cake
You would need 18 3/4 quarts of sparkling water.
