Answer:
18 years
Step-by-step explanation:
The formula for computing accrued amount A for a principal of P at an interest rate of r(in decimal) compounded n times in a year for t years is given by
Note that r is percentage converted to decimal. So 3% = 3/100 = 0.03
We can rearrange the above equation to:
Taking logs on both sides
This gives
In this particular problem, n = 4, , A= 9600, P = 5600, r =0.03, so r/n = 0.03/4 = 0.0075
1 + r/n = 1+0.0075 = 1.0075
4t = log(9600/5600)/log(1.0075) = log(1.714) / log(1.0075) = 0.234 /0.00325 = 72
t = 72/4 = 18 years
Answer:
Answer;
-38 %
Step-by-step explanation:
Explanation;
-Budget busters are the large potential problem areas that can destroy a budget. Failure to control even one of these problem areas can result in financial disaster.
-Housing takes about 38 percent of your monthly budget. Housing decisions should be based on need and financial ability, not on internal or external pressure.
-Food takes 12 percent of your monthly budget. The reduction of a family's food bill requires quantity and quality planning.
-Transportation (purchase and maintenance), takes 15 percent of your monthly budget, Debts takes 5 percent of Net Spendable Income, Insurance takes 5 percent of Net Spendable Income assuming an employer provides medical insurance, Recreation/Entertainment takes 5 percent of Net Spendable Income, Clothing takes 5 percent of Net Spendable Income, Medical and dental takes 5 percent of Net Spendable Income and Savings takes 5 percent of Net Spendable Income
Answer:
The correct option is C.
Step-by-step explanation:
The least common multiple (LCM) of any two numbers is the smallest number that they both divide evenly into.
The given terms are 
and 
.
The factored form of each term is
To find the LCM of given numbers, multiply all factors of both terms and common factors of both terms are multiplied once.
The LCM of given terms is 
. Therefore the correct option is C.
