Answer:
Step-by-step explanation:
<u>Step 1: Find the answer</u>
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Answer:
The future value (A) of a one-time investment of principal amount P at interest rate r compounded n times per year for t years is ...
... A = P(1 +r/n)^(nt)
Putting your given numbers into the formula, we have
... 876.34 = 300(1 +.06/4)^(4t)
Taking logarithms, this becomes the linear equation
... log(876.34) = log(300) + 4t·log(1.015)
Solving for t in the usual way, we get
... log(876.34) -log(300) = 4t·log(1.015) . . . . . . . subtract the constant term on the right
... (log(876.34) -log(300))/(4·log(1.015)) = t ≈ 18.00 . . . . divide by the coefficient of t
It will take <em>18 years</em> for the $300 CD to reach a value of $876.34.
Answer:
bro why the hell are there breasts in ur pfp
Answer:
$182534.5
Step-by-step explanation:
Step one:
given data
In 2014 Lucy's house was worth 200,000
The value of the house increased by 3% every year
Time period = 3 years
Step two:
let us find the value after 3 years
Year one
value= 200000- 0.03*200000
value= 200000-6000
value= 194000
Year two
value= 194000- 0.03*194000
value= 194000-5820
value= 188180
Year three
value= 188180- 0.03*188180
value= 188180-5645.4
value= $182534.5
Answer:
$24
Step-by-step explanation:
James and Sarah's lunches cost $20 each, so the total price of their meal is 20 * 2 = $40.
They tipped their server 20% of $40, so to find 20% of 40 you would multiply:
40 * 0.20 = 8
Add 8 to 40 = $48.
If they shared this lunch price of $48 equally then they each paid half of this price.
48 / 2 = 24
They each paid $24.
