Answer:
The growth rate he needs to achieve his goal is approximatelly 19.8%
Step-by-step explanation:
Since the sum will be compounded continuously we have to use the appropriate formula given below:
M = C*e^(r*t)
Where "M" is the final amount, C is the initial amount, r is the interest rate and t is the time elapsed. Since Sung Lee will invest that sum at 18 years old and he wants to recieve the return at 25, then the time elapsed is given by 25 -18 = 7 years. We can now apply the data to the formula:
16000 = 4000*e^(r*7)
4000*e^(7*r) = 16000
e^(7*r) = 16000/4000 = 4
ln[e^(7*r)] = ln(4)
7*r = ln(4)
r = ln(4)/7 = 0.198
The rate of interest is given by (r)*100%, so we have (0.198)*100% = 19.8%.
Its simple, convert 1 and 2/3 into a fraction which is 5/3 and use KCF which is Keep Change and Flip,
How this works is that you keep the first fraction, then change the division sign to a multiplication sign (Change = change the sign into its oppisite) then flip the other fraction from being 5/3 into 3/5. And then you multiply top times top and bottom times bottom. After that you simplify if you can, Hope this helped!
Answer:
6
Step-by-step explanation:
(8:100) * 75
(8*75) : 100
600:100 = 6
Answer:
its 45
Step-by-step explanation:
