We have been given that an account is opened with a balance of $3,000 and relative growth rate for a certain type of mutual fund is 15% per year.
In order to tackle this problem we have to find the value of mutual fund after 5 years. For our purpose we will use compound interest formula.
,where A= amount after t years, P= principal amount, r= interest rate (decimal) and t= number of years.
After substituting our given values in above formula we will get
Now we will solve for A
Therefore, after 5 years mutual fund is worth $6034.07.
Answer:
The percent of the increase for the money the class raised is 10 %
Step-by-step explanation:
Because if you divide 1500 by 10 you get 150 that means 150 is 10 % of 1500 and if you add 150 to 1500 you get 1650 so the increase of money the class raised is 10 %
I hope this helped :)
Answer:
C. 342
Step-by-step explanation:
This year, 150% of last year's tickets were sold.
Last year, 228 tickets were sold.
150% as a fraction is 150/100
To find the amount of tickets sold this year, we take the 150/100 and multiply it by 228:
150/100*228= 342 tickets
Sum of two interiors=exterior
