The amount of money Justin would have in his account than Aaron, to the nearest dollar is $0
What is the future value formula for continuous compounding cash flow?
The future value, which is used to determine the worth of this investment of $740 made now in 18 years is as shown below:
FV=PV*e^(rt)
FV=the worth of the investment in 18 years=unknown
PV=the amount invested today=$740
e=mathematical exponential value=2.7182818
r=rate of interest which compounded continuously=5%
t=time of investment in years=18
FV=$740*2.7182818^(5%*18)
FV=$740*2.7182818^(0.90)
FV=$740*2.459603087981220
FV=$1,820.11
Justin:
FV=PV*(1+r/m)^(n*m)
PV=$740
r=5%
m=number of times in a year that interest is compounded=365
m=number of years=18
FV=$740*(1+5%/365)^(18*365)
FV=$1,819.99
difference=$1,820.11-$1,819.99
difference=$0.12($0 to the nearest dollar)
Find out more about continuous compounding on:brainly.com/question/23136156
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Step-by-step explanation:
Things I notice about this problem:
- "Difference" indicates subtraction.
- When a problem simply says "a number," I replace it with a variable.
It is written out like this: 
.
x = -2
y = 1
let's multiply second equation by 4 to get a common coefficient of y variable.
16x-8y=-40
add the equations
3×+8y=2
16x-8y=-40
----------------
3x+16x = -38
19x = -38
x = -2
substitute x
3×-2 + 8y = 2
-6 + 8y = 2
8y = 2+6
y = 1
check the answer
-6+8 = 2
-8-2= -20
Answer:
Step-by-step explanation:
What is 15.41 rounded to the nearest hundredth?
Rounding to the Nearest Hundredth. Rounding decimals is very similar to rounding other numbers. If the thousandths place of a decimal is four or less, it is dropped and the hundredths place does not change. For example, rounding 0.843 to the nearest hundredth would give 0.84.
Because there all different worth different numbers just like stuff in the store
