Elizabeth raises chickens and sells the eggs to a local supermarket. The supermarket pays $0.85 for every dozen eggs. How much m
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You want to solve for x so add 18 from both sides of the equal sign. making it 3x=12. then divide both sides by 3 making x=4. x is 4.
Answer:
He must invest R297 521 today.
Step-by-step explanation:
The compound interest formula is given by:
Where A(t) is the amount of money after t years, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per year and t is the time in years for which the money is invested or borrowed.
Banabas must pay his ex-wife an amount of R350 000 in two years’ time.
This means that
Interest rate of 8.15% per annum compounded monthly:
This means that .
Amount he must invest today:
This is P. So
He must invest R297 521 today.