1) Since this is a Continuously Compounded operation in a 10 yrs period, then we can write out the following equation:
2) Plugging into the equation the given data and since Otto is 20 yrs old and he plans to get $4,000 in ten years, we can write out:
3) Thus the rate Otto needs is
Note that since the 0.1386 the six here is greater than 5 then we can round up to the next thousandth, in this case: 0.139. For the 0.1386 is closer to 0.139 (0.004) than to 0.138 (0.006).
Or 13.9%
Answer:
Option a. $2,040
Step-by-step explanation:
step 1
To find out the amount of the additional passive income last year, subtract the amount earned at her salaried job from Loretta’s income last year
so
step 2
Divide the additional passive income last year by 12 (number of months in a year)
therefore
approximately $2,400 per month
Answer: sally initially has $240, Tom initially has $180.
Step-by-step explanation:
Let initial amount of money sally has = x
Then, initial amount tom has = 75% * x = 0.75x
Now to present,
Amount sally has = x -120
Amount tom has = [x - 120] + [50% * (x-120)]
= x - 120 + 0.5x - 180
= 1.5x - 180
Since Tom didn't spend, it means this is the same amount tom has then we equate both equations.
0.75x = 1.5x - 180
180 = 0.75x
x = 240
Therefore, initial money of sally of sally = $240
Initial money of tom = 240 * 0.75 = $180.
Plug in 0 into x of the equation y=2x+3, solve it, then take that answer and use that as your y then plug in the answer for y and solve for x. (i realized i am very bad at explaining this over this. Sorry I tried)
Answer:
63
Step-by-step explanation:
