We have been given that you invest $100,000 in an account earning 8% interest compounded annually. We are asked to find the time it will take the amount to reach $300,000.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount after t years,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Let us take natural log on both sides of equation.
Using natural log property 
, we will get:
Upon rounding to nearest tenth of year, we will get:
Therefore, it will take approximately 14.3 years until the account holds $300,000.
Answer:
yes, the centroid is where the medians meet
<em>hope this helps!</em>
<em>have a great day :)</em>
Part A:
Given that <span>the mattress is sold for 50% off of the retail price, let the retail price of the mattress be x, then
50% of x = 1200
⇒ 0.5x = 1200
⇒ x = 1200 / 0.5 = 2400
Therefore, </span><span>the retail price of the mattress, before the discount is $2,400.
Part B:
Given that </span><span>the store marks up the retail price to 150% of the wholesale price. Let the whole sale price be p, then
(100% + 150%) of p = 2400
250% of p = 2400
2.5p = 2400
p = 2400 / 2.5 = 960.
Therefore, </span><span>the wholesale price, before the markup was $960</span>
The answer is 16. I’ve done this before and i got a 100% on it! Good Luck!!
