An investment of $1,000 is earning interest at the rate of 3.8% compounded daily over 3 years. Approximately how much interest i
1 answer:
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Answer:
a. 1 1/8 b. 8/9
Step-by-step explanation:
You can set this up as a proportion to solve. For part a. we know that 2/3 of the road is 3/4 mile long. 2/3 + 1/3 = the whole road, so we need how many miles of the road is 1/3 its length. Set up the proportion like this:
Cross multiplying gives you:
The 3's on the right cancel out nicely, leaving you with
To solve for x, multiply both sides by 3/2:
gives you
That means that the road is still missing 3/8 of a mile til it's finished. The length of the road is found by adding the 3/4 to the 3/8:
So the road is a total of 1 1/8 miles long.
For b. we need to find out how much of 1 1/8 is 1 mile:
1 mile = x * 9/8 and
x = 8/9. When 1 mile of the road is completed, that is 8/9 of the total length of the road completed.