Answer:
S.A. = 15.7
Step-by-step explanation:
S. A. =
1 x 1 x 3.14 = 3.14
3.14 x 1 x 4 = 12.56
12.56 + 3.14 = 15.7
Hey sisters its me James Charles ;)
2 answers:
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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%