Answer: $ 14736 (approx)
Step-by-step explanation:
Since, Maturity value is the amount payable to an investor at the end of a holding period of debt instrument.
And, It is defined as,
Where, P is the principal amount,
r is the interest rate
And, n is the time period.
Here, P= $4,400 r= 12 % and n = 172/365
Thus, Maturity value for this loan,
⇒V= 4400 × 3.34908932078 = 14735.9930114 ≈ 14736
Answer: It will about 1.88 hours or 1 hour 52.5 minutes to clean the stadium if they work together .
Step-by-step explanation:
Given : Time taken by Kevin to clean a stadium = 5 hours
Rate of work done by Kelvin =
Time taken by Chris to clean a stadium = 3 hours
Rate of work done by Chris =
Let t be the time taken by both of them to clean the stadium together.
According to the question , we have
Rate of work done together = Rate of work done by Kelvin+Rate of work done by Chris
hours
[∵ 1 hour = 60 minutes]
Hence, It will about 1.88 hours or 1 hour 52.5 minutes to clean the stadium if they work together .