The answer of this problem will be 622 because you round that eight to the one and get your answer
The Future value is:
a) $10,210.25
b) $11,220.41
c) $12,308.99
d) $18,938.90
e) $44,835.28
What is future value?
The future value (FV) of any asset can be understood as an increase in its value at a fixed rate over a period of time. For a given principal sum P, rate of interest r, and time period t, the future value of an asset can be calculated as:
FV=P*(1+r) ^t
We can find future value as shown below:
P=$8,000
t=5 year
a) r=6%=0.06
FV=8000*(1+0.05) ^5
=8000*(1.0) ^5
=$10,210.25
b) r=7%=0.07
FV=8000*(1+0.07) ^5
=8000*(1.07) ^5
=$11,220.41
c) r=9%=0.09
FV=8000*(1+0.09) ^5
=$12,308.99
d) r=9% compounded semiannually
= 0.09
t=2*5=10
FV=8000*(1+0.09) ^10
=8000*(1.09) ^10
=$18,938.90
e) r=9 percent compounded quarterly
=0.09
t=5*4=20
FV=8000*(1+0.09) ^20
=8000*(1.09) ^20
=$44,835.28
Learn more about Future value here:
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We need to calculate a total TIME.
Let the time required to cover distance d at 20 mph be x. d is the ONE WAY distance, not the total distance traveled (which would be 2d).
Remember the formula d=rt: the distance traveled equals the rate times the time. Here, d = rx, and thus x = d/r = d/(20mph)
Let's begin by recognizing that d(going) = d(returning)
Then (20 mph)x = 6 + (16 mph)x
(20 mph)x - (16 mph)x = 6 miles
Then: (4 mph)x = 6 miles
or: x = 1.5 hours
It takes the bird 1.5 hours at 20 mph to cover distance d, which is 30 miles.
Thus, the total time spent flying is 1.5 hours (going) and [1.5 hours + (6 miles)/(16 mph) returning:
1.5 hours + 1.5 hours + 0.375 hours = 3.375 hours total.
The total distance covered is 2d, or 2(30 miles) = 60 miles.
It took me a while and a lot of experimentation to arrive at these results. Please, if my arguments here are not clear, ask questions.
