Answer:
n= 11.65 years
Step-by-step explanation:
Giving the following information:
Present Value (PV)= $33,000
Future Value (FV)= $15,000
Decrease rate (d)= 7%
<u>To calculate the number of years it will take to reach $15,000; we need to use the following formula:</u>
<u></u>
n= ln(FV/PV) / ln(1+d)
n= ln(15,000/33,000) / ln(1.07)
n= 11.65 years
Answer:
7
Step-by-step explanation:
okay
15.80 * 1.05 should give you the answer
A method to solve it would be would be:
First converting 5% to a decimal then multiplying that by 15.80 in order the find 5 percent of 15.80...Afterwards you have to add that value to the original 15.80 ..And you should end up with the same answer.
Answer: $467.21
Step-by-step explanation:
8% of 600 = 48
600 - 48 = 552
8% of 552 = 44.16
552 - 44.16 = 507.84
8% of 507.84 = 40.6272
8% of 507.84 ≈ 40.63
507.84 - 40.63 = 467.21
