Answer:
a. The value of the car will be $18,195.25
b. (i) 2.5 hours
(ii) 25 problems each
Step-by-step explanation:
a. To calculate the value of the car after four years, what we shall use is the exponential formula below;
F = PV( 1 - r)^t
where F is the value at year 4
PV is the present price = $29,000
r is the rate = 11% = 11/100 = 0.11
t is the time = 4 years
Substituting these values, we have;
F = 29,000(1-0.11)^4 = 29000(0.89)^4 = $18,195.25
The value of the car when he graduates will be $18,195
b. Let the number of hours it will take for both to have written the same number if problems
be x
For Ms B, the number of problems she would have written at that time will be 10 + 6(x)
For Ms D , the number of problems will be 10 * x = 10x
To get the time it will take for both to write same number of problems, we will need to equate the number of problems they would have written by hour x
Hence;
10 + 6x = 10x
10x-6x = 10
4x = 10
x = 10/4 = 2.5 hours
The number of problems would be;
For Ms B = 6(2.5) + 10 = 15 + 10 = 25
For Ms D = 10(2.5) = 25
They both would have written 25 problems at that time
