The sixth-graders at Jen's school got to choose between a field trip to a museum and a field trip to a factory. 57 sixth-graders
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Amount must the owner make to have the cost of the ski lift in 5 years is $6,711,045.22.
<h3>What is compound interest?</h3>
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest.
A = P(1 + r/n)
P =5,500,000
r =4%= 0.004
n =4
t= 5 years.
Now,
A = P(1 + r/n)
A = 5,500,000.00(1 + 0.04/4)
A = 5,500,000.00(1 + 0.01)
A = $6,711,045.22
Hence, The total amount accrued is $6,711,045.22.
Learn more about compound interest here:
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Answer:
If friction did not exist, it would be hard for us to slow down in running, or putting breaks on a car, and more!
If friction did not exist, your car will slide down the road even if you try your best to put the brakes on a car. Friction is a very important force to slow down things that are moving very fast
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