Answer:
hours is closest to 2 hours.
Step-by-step explanation:
We have been given three numbers and we need to decide which of the three numbers is closest to 2.
In order to decide that, we will convert each of the given numbers into decimals and then we will compare.
Upon comparing 2.750, 2.375 and 2.600 we know that 2.375 is closest to 2. Therefore, out of the given three numbers, is closest to 2.
The amount of $7389.43 has to be invested at 5.9% interested continuously to have $15,000 after 12 years.
Step-by-step explanation:
The given is,
Future value, F = $15,000
Interest, i = 5.9%
( compounded continuously )
Period, t = 12 years
Step:1
Formula to calculate the present with compounded continuously,
...............(1)
Substitute the values in equation (1) to find the P value,
( ∵
)
( ∵
)
We change the P (Present value) into the left side,
≅ 7389.43
P = $ 7389.43
Result:
The amount of $7389.43 has to be invested at 5.9% interested continuously to have $15,000 after 12 years.