Consider the letters of the word STRIVE are written on individual cards are placed in a box.
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Any 
in this set will be real numbers that are both less than 
and greater than 
. But that's not possible, so this set is empty.
We have that every quarter, he will get an 0.8% interest rate. We also have that there will be 14*4=56 periods of repayment. We have that by the formula, if there are n periods and x% is the interest rate, the capital is multiplied by (100+x%)^n.
Suppose Micah invests x money. Then, we have that after 14 years, the capital available will be C=
. We have that C=18500$ and hence that 18500=x*1.562. Thus, solving for x we have that x=11841$.
Micah will need to invest only 11841$ in order to pay for his boat; this shows the importance of saving since he earns a lot of money, around 7k $.
Suppose Micah invests x money. Then, we have that after 14 years, the capital available will be C=
Micah will need to invest only 11841$ in order to pay for his boat; this shows the importance of saving since he earns a lot of money, around 7k $.