$394.51 is future value of money after 2 years.
What future value means?
- A current asset's future value (FV), which is based on an estimated rate of growth, is its value at a later time.
- Investors and financial planners use the future value to project how much an investment made now will be worth in the future.
The method that results in more money after 2 years is Peggy's investment.
Which method results in more money in 2 years?
The formula for calculating the future value of an investment:
FV = P (1 + r)^nm
FV = Future value
P = Present value
R = interest rate
m = number of compounding
N = number of years
Future value of Larry's investment: $350 x [1 + (0.04/4)]^(4 x 2) = $379
Future value of Peggy's investment: $350 x [1 + (0.06/12)]^(12 x 2) = $394.51
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Answer:
Step-by-step explanation: The reason is is because when adding and subtracting integers, you flip the operation sign that will be used to solve the problem.So when you flip the sign of this equation, you subtract. So that's how your answer was 11/17. Also it is positive because the biggest number is positive so that is what the solution will be.
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Answer:
23.52 miles
Step-by-step explanation:
Let us find the number of miles that they would have run.
Kana starts at 9:35 a.m. and runs at an average rate of 7 mph.
Let the time she has spent so far be t.
Speed is given as:
s = d / t
where d = distance and t = time
=> d = s * t
Therefore, for Kana:
d = 7 * t = 7t _____________(1)
Ji-Hun starts at 10:00 am (25 minutes after Hannah) and runs at an average rate of 8 mph.
25 minutes = 25/60 hour = 0.42 hour
So, his time (compared to Kana's) is t - 0.42.
therefore, for Ji-Hun:
d = 8 * (t - 0.42)
=> d = 8t - 3.36 ____________(2)
Equating (1) and (2):
7t = 8t - 3.36
=> 8t - 7t = 3.36
t = 3.36 hours
Therefore, let us find d:
d = 7 * 3.36 = 23.52 miles
So, Ji-Hun will catch up to Kana after 23.52 miles.
