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stepladder [879]
3 years ago
10

Two amounts of money are in the ratio 8:3 if the second amount is 4.05,what is the value if the first amount?​

Mathematics
1 answer:
jonny [76]3 years ago
3 0

Answer: 10.75 currency units

Step-by-step explanation:

The amounts of money are in the ration 8:3 which means that for every 3 units of the second amount, there are 8 units of the first.

Use direct proportion to solve:

8      :      3

x      ;       4.03

Cross multiply to get:

3x = 32.24

x = 32.24 / 3

x = 10.75 currency units

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The expression to compute the amount in the investment account after 14 years is: <em>FV</em> = [5000 ×(1.10)¹⁴] + [3000 ×(1.10)⁸].

Step-by-step explanation:

The formula to compute the future value is:

FV=PV[1+\frac{r}{100}]^{n}

PV = Present value

r = interest rate

n = number of periods.

It is provided that $5,000 were deposited now and $3,000 deposited after 6 years at 10% compound interest. The amount of time the money is invested for is 14 years.

The expression to compute the amount in the investment account after 14 years is,

FV=5000[1+\frac{10}{100}]^{14}+3000[1+\frac{10}{100}]^{14-6}\\FV=5000[1+0.10]^{14}+3000[1+0.10]^{8}

The future value is:

FV=5000[1+0.10]^{14}+3000[1+0.10]^{8}\\=18987.50+6430.77\\=25418.27

Thus, the expression to compute the amount in the investment account after 14 years is: <em>FV</em> = [5000 ×(1.10)¹⁴] + [3000 ×(1.10)⁸].

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Step-by-step explanation:

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