Total amount paid if he bought = 6000 + 726(12 x 3) = 6000 + 726(36) = 6000 + 26,136 = 32,136
Total amount paid if he rents = 2000 + 37P, where P is the monthly rent
For renting to be cheaper
2000 + 37P < 32,136
37P < 32136 - 2000 = 30136
P < 30136 / 37 = 814.49
Therefore, the maximum rent he could pay is $814
Answer:
The interest rate is 7.58%
Step-by-step explanation:
Compound continuous interest can be calculated using the formula:
A = P
, where
- A is the future value of the investment, including interest
- P is the principal investment amount (the initial amount)
- r is the interest rate in decimal
- t is the time the money is invested for
∵ Angus has $3,000 he want to invest
∴ P = 3000
∵ The interest rate is compounded continuously
∵ Angus has $5,500 in 8 years
∴ A = 5500
∴ t = 8
→ Substitute them in the rule above to find r
∵ 5500 = 3000
→ Divide both sides by 3000
∴ 
=
→ Insert ㏑ in both sides
∵ ㏑( ) = ㏑()
→ Remember ㏑(
) = n
∴ ㏑( ) = 8r
→ Divide both sides by 8
∴ 0.07576697545 = r
→ Multiply it by 100% to change it to a percentage
∴ r = 0.07576697545 × 100%
∴ r = 7.576697545 %
→ Round it to the nearest hundredth
∴ r ≅ 7.58
∴ The interest rate is 7.58%
You have not given us any of the steps that Ricardo took to simplify the
expression, and you also haven't given us the list of choices that includes
the description of his mistake, so you're batting O for two so far.
Other than those minor details, the question is intriguing, and it certainly
draws me in.
If Ricardo made a mistake in simplifying that expression, I'm going to say that
it was most likely in the process of removing the parentheses in the middle.
Now you understand that this is all guess-work, because of all the stuff that you
left out when you copied the question, but I think he probably forgot that the 3x
operates on everything inside the parentheses.
He probably wrote that 3x (x-3) is
either 3x² - 3
or x - 9x .
In reality, when properly simplified,
3x (x - 3) = 3x² - 9x .
<span>1. What number must multiply each side of the equation 2/5 x=10 to produce the equivalent equation x = 25? 4 5 5/2 1/5 2. Solve. -1/3 x=12 4 –36 –1/4 –4 3.Solve. 3|s| = 18 s = –6 or s = 6 s = 6 only s = –18 or s = 18 s = –6 only 4.Solve. x + 4 – 7x =...</span> show more Best Answer:<span> </span><span>C
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