When Jaden bought the raffle ticket, he has a 1% chance of winning, which means that even if the chance is small, it's still there.
Your answer would be
It likely won't be drawn.
Answer:
17 years
Step-by-step explanation:
The compound interest formula is ...
A = P(1 +r/n)^(nt)
where P is the principal invested at annual rate r, compounded n times per year for t years.
Filling in the numbers and solving for t, we find ...
16826.03 = 8534(1 +.04/12)^(12t)
16826.03/8534 = 1.0033333...^(12t)
Taking logs, we have ...
log(16826.03/8534) = 12t·log(1.0333333...)
Dividing by the coefficient of t gives ...
log(16826.03/8534)/(12·log(301/300)) = t ≈ 17.000
It will take 17 years for the account balance to reach $16,826.03.
Its a 2 hour difference between both of those speed limits. 13 hours for the old speed limit, and 11 for the current speed limit. Hope i could help!
30 divided by 12 equals 2.5 so it should equal 2.5%
