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1195 boxes are needed to ship all the tables
<em><u>Solution:</u></em>
Given that, furniture store received an order for 8,367 tables
They can fit 7 tables in the lower shipping box
To find: Number of shipping boxes needed to ship all the tables
From given,
Total number of tables = 8367
Number of tables fit in one shipping box = 7
Thus, we can find the number of shipping boxes needed to ship all the tables by dividing total number of tables by number of tables fit in one shipping box
Substituting the values we get,
Thus 1195 boxes are needed to ship all the tables
<h3>What would be the value of $150 after eight years if you earn 12 % interest per year? A. $371.39 B. $415.96 C. $465.88 </h3>
<em>The compound interest is applied, that is to say, each year the interest produced is accumulated to the outstanding capital and the interest of the next period is calculated on the new outstanding capital.</em>
The formula for calculating compound interest is:
Compound interest = Total amount of Principal and interest in future less Principal amount at present = [P(1 + i)ⁿ] – P
(Where P = Principal, i = nominal annual interest rate in percentage terms, and n = number of compounding periods)
[P(1 + i)ⁿ] – P = P[(1 + i)ⁿ – 1] = $150[(1 + 12/100)⁸ – 1] = $150[(1.12)⁸ – 1] = $150[2.47596317629 - 1] = $150[1.47596317629] = $221.39
Total amount = $150 + $221.39 = $371.39
Answer : A.) $371.39